The freeze on student loan payments is set to end in June, and the Supreme Court is preparing to hear cases to decide whether to allow student-loan forgiveness. Rainesford spoke to eight borrowers about how the payment pause has affected them
The Cut spoke to eight borrowers who carry varying amounts of student debt in varying circumstances — from withdrawing from college because of disability, to parenting while in school, to taking out Parent PLUS Loans for their children. They shared, in their own words, how the payment pause has affected them and the difference student-loan forgiveness would make in their lives.I started college back in 2014. I was a young mom with no money and in need of food, diapers, baby formula, and housing.
I had a little over $20,000 in debt coming out of undergrad, at first not paying much at all because of income-driven repayment. But as I started to make a little more money, those payments started to go up and probably topped out at about $200 a month before the initial freeze.I went to a public four-year university and I still ended up with over $27,000 in student-loan debt. I’ve been paying on it for almost a decade now, and I owe more than I did whenever I graduated.
So much of being chronically ill is being limited, and student loans just add to that in a way that says, “This isn’t a path that you can take. You don’t have this choice.” Having student debt go away, be forgiven … suddenly, I don’t have to feel bad that I got sick. I don’t have $12,000 staring at me saying, “Your life didn’t go how you planned, and that’s going to impact the future that you can create.” If forgiveness does go through, it opens up the possibility I might go back to school.
I’d like to make plans. The email itself didn’t even let me think that far. It was like, “Congratulations, Pell Grant recipient, $20,000 off for you. Unfortunately, the mean old Republicans are filing suit, and we don’t know when this payout will occur.”
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