skip to main content
skip to newscasts

Wednesday, June 12, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Republicans have put Merrick Garland in contempt; state legislators are missing people from working class jobs and FDA has advised for formulation of vaccine for new covid strain.

view newscast page
play newscast audioPlay

House Republicans vote to hold AG Merrick Garland in contempt of Congress. The Senate battles it out over federal protections for in vitro fertilization. North Dakota becomes the first state to impose an age cutoff to run for Congress.

view newscast page
play newscast audioPlay

Rural America's job growth is up, but still hasn t recovered from the pandemic, about one in five rural Americans live in a town with a prison, rural women seeking birth control have a new option and dark skies beckon as summer arrives.

As Federal Student Loan Repayments Resume, Tips to Prepare

play audio
Play

Friday, August 11, 2023   

As summer comes to an end, kids and adults alike are headed back to school. But for college graduates, this also means it's time to resume payments on their federal student loans after a hiatus of more than three years.

More than half of North Carolina college graduates have some student-loan debt, and starting Sept. 1, interest will begin accruing on their federal loan debt, with payments due again in October.

Brian Walsh, associate manager of financial planning for SoFi, a personal-finance company, said there are steps borrowers can take before that date to get prepared.

"Number one, it's really important to take a step back and understand what federal student loans you have," he said. "So, you could do that by going to studentaid.gov and find information on your federal student loans, what types they are, the balances, interest rates."

Walsh said you should also research whether there are loan-forgiveness options available. The Institute for College Access and Success found that in the year before the pandemic, the average college loan debt for a North Carolina graduate was nearly $30,000.

The Consumer Financial Protection Bureau added that 30 million borrowers will have a new loan servicer when payments resume. Walsh said this also means scams will be more prevalent, and warned borrowers to verify the legitimacy of any student-loan communication.

"One of the first places to start is by, if you have a federal student loan, connecting with your servicer," he said, "because over the last three-and-a-half years, not only have payments and interest on federal student loans been paused, but there's been a ton of turnover as far as loan servicers."

He explained that a loan servicer can discuss repayment options that can help borrowers avoid financial hardship. He highlighted the new income-driven repayment option introduced by the Biden administration, and said the plan is generous compared with previous options, and may benefit a majority of student borrowers.

Support for this reporting was provided by Lumina Foundation.


get more stories like this via email

more stories
South Dakota loses up to 100,000 acres of grasslands annually, according to the South Dakota Grassland Coalition. Grassland bird species are declining faster than any other group on the continent. (Gregory Johnston/Adobe Stock)

Environment

play sound

About 1.6 million acres of Great Plains grasslands were destroyed in 2021 alone, according to a recent report, an area the size of Delaware. One …


Social Issues

play sound

Help is available for people looking to break out of a low-wage, "go-nowhere" job because the nonprofit Merit America is expanding its training …

play sound

The University of Wyoming is scrambling to address a major funding cut state legislators passed in a footnote to the state budget. During this …


play sound

Summer temperatures are one more reason for concern by environmental groups about the nuclear waste stored along the Great Lakes. There are three …

Heart disease is the leading cause of death in the U.S., according to the American Heart Association. It claimed more lives in 2021 than all forms of cancer and chronic lower respiratory disease combined. (Adobe Stock)

Health and Wellness

play sound

A North Carolina woman is highlighting how important knowing your family history can be in matters of the heart. According to the American Heart …

Social Issues

play sound

New Hampshire ranks first in the nation for overall child well-being but trauma and pandemic-related learning loss continue to impact students…

Environment

play sound

Walk through a store or schools, and there's a chance the overhead lighting will come from long fluorescent tubes. Minnesota is taking steps to phase …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021