Millions of Americans who have federal student loans have been dreading this day. One Bay Area dentist says it's impossible to live in San Francisco, pay rent and pay back her loans.
"I graduated from dental school in 2019," said Annelise Eriksen. She has been a dentist in the Bay Area for more than three years.She went on to say, "I didn't take out any student loans for my undergrad. That's all dental school loans. I think my largest loan is $70,000 with a 7.5% interest rate."Betsy Mayotte, president of the Institute of Student Loan Advisors has these three tips:"Make sure you know where your loans are, which you can do at www.student aid.
"It's daunting. In order to keep up with the interest rates, I would have to start making payments of $3,000 a month. That's how much pure interest my loans accrue every month," Eriksen said.There's a one-year grace period for federal student loan borrowers. For a year, borrowers who miss payments will not go into default, nor will they be reported to credit reporting agencies.If you're on the ABC7 News app,
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