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Student Loan Settlement Isnt a Get Out of Debt Free Card. Heres What to Know

Student Loan Settlement Isnt a Get Out of Debt Free Card. Heres What to Know

The CARES Act federal student loan freeze has been extended to , but many borrowers will still find it difficult to resume payments despite the extra time to prepare. 18% of student loan borrowers were behind on their payments before the federal loan freeze went into effect, according to the Federal Reserve.

A survey by the Student Debt Crisis Center (SDCC) before the latest extension was announced revealed that among full-employed student loan borrowers, nearly one in five said that they would never be financially secure enough to resume payments again. (more…)

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