In January, the Education Department extended a suspension on federal student loan payments through Sept. 30, following a request from the Biden administration. The moratorium puts a pause on collections and keeps the interest rate at zero percent, while giving borrowers a chance to breathe as the economy struggles under the pandemic. But come October, many borrowers may struggle to get back on track with their payments.
Joining Cincinnati Edition to discuss the moratorium is The Institute for College Access & Success Senior Policy Analyst Michele Streeter; and Postal Carrier Charles Grove, who is working to pay off his student loan.
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