Time to start planning for student loan payments to resume
After more than 18 months, the current suspension of federal student loan payments is slated to end on October 1. Policymakers need to start planning now. Restarting loan payments for over 20 million borrowers isn’t nearly as simple as turning on a light switch.
Fixing the student loan safety net
Over 8 million borrowers are now paying back their loans through income-driven repayment. IDR has undoubtedly kept many people out of default. But the program has a downside: sharply escalating costs that threaten the long-term fiscal stability of the student loan system.