According to estimates from the Federal Reserve, more than 9 million student loan borrowers are now delinquent as payments have resumed.
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Over 9 million student loan borrowers past due after bills restarted, Fed estimates
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It’s concerning to hear that over 9 million student loan borrowers are struggling to keep up with their payments now that bills have restarted. The resumption of loan payments can be a significant financial burden, especially as many individuals are still recovering from the economic impact of the pandemic. This situation highlights the importance of providing support and resources to borrowers, such as counseling services or financial education, to help them navigate their repayment options. It may also prompt discussions about the need for broader student loan reform and potential solutions to alleviate the debt crisis. What do you think are the best ways to support borrowers in this challenging time?