Meridian, MS - After a three-year break, a lot of Americans will be required to make a payment on their federal student loans at some point next month.
Twin States News Cohlby Sims got some advice for people who are facing student loan payments:
Tens of millions of Americans will have to resume payments on their student loans after those payments were put on hold during the pandemic.
Meridian Community College’s Financial Aid Director, Whitney Stevens, has this advice for anyone with student loans.
“One of the main things that students need to do is go to Studentaid.gov. They need to check to see who their loan servicers are, and get in contact with those servicers just to find out the status of their repayment, the amount of their repayments, and discuss any things with them that may impact those payments.”
Mrs. Stevens also shares a suggestion with students who owe more than one loan service.
“If they have multiple loans just to ensure each servicer that their loan may be with. Because we don’t want them to miss out on anything or to allow anything to go into default.”
Director of Recruitment for Tougaloo College, Paul Scott, said the break in his student loan payments did help him out financially.
He also offered advice on how to get help with loan payments now that it's time to pay again.
“I was in graduate school during that time, so my loans hadn’t accumulated to a degree. But since they have stopped, yeah now I’ve got to go out and figure out how to get those repayment plans situated or try to find different programs to assist me in getting those loans paid for.”
Studentaid.gov advises students to update their personal information on the website.
They also said you should get your first payment amount and due date at least 21 days before your first payment is due.
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