For many who graduated since 2020, it’ll be the first time they’ve ever had to make the payments — causing a 'payment shock as they attempt to recalibrate their monthly budgets.' 'Payment shock' looms for millions with student loan restart:
The credit reporting agency examined the impact on some 27 million student-debt holders who are due to start paying again in September, after a pandemic freeze that lasted more than three years. For many who graduated since 2020, it’ll be the first time they’ve ever had to make the payments.
Compounding the strain, many of the student-loan borrowers have taken on other kinds of debt during the pandemic, likely at a higher cost as rates went up, the TransUnion study found.
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