Student Debt Payments To Resume In February

Millions of student loan borrowers will be required to make payments once again starting in February but things may be a bit different than they were before COVID hit.

The 2 thousand stimulus check.

Millions of student loan borrowers will be required to make payments once again starting in february.

Waay-31's bridget divers has more information about the changes.

Bridget?

Dan, najahe -- president trump signed the new stimulus bill yesterday -- but an extension of the pause on mandatory student loan payments was not included.

U.s. secretary of education besty devos did extend the student loan forberance period until january 31st though.

Jamie adams/ professor at athens state university "it's been incredibly awful.

I'm a professor and we're on nine-month contracts.

So, i teach studio art so we, what i usually do with my wife is during the summer we don't get paid, we just get paid for those nine months and then during the summers we supplement our income."

Jamie adams is a professor of art at athens state university.

He says he has been paying off his student loans for thirteen years.

And is not sure when he will be able to pay all of them off.

"i was a first-generation college student.

I was the first kid in my entire family to go to college much less get a degree.

So, i made just about every financial mistake possible when it comes to student loans."

He says he's been taking advantage of the pause on mandatory student loan payments.

"we're still taking advantage of it.

I mean it's just..

You know because when you lose your income for three months it's not just your student loans you have to worry about paying.

It's your rent, your mortage, your car payment, you're electrical so ya it was pretty tough."

Adams said he's had trouble paying his student loans before the pandemic though.

After he lost his job teaching at judson college.

"i lost my job there several years ago and you know because of that and because i wasn't employed for a few months i ended up defaulting on a couple of my student loans."

Now the 600 dollar stimulus money approved by conress and signed by trump that people will receive will not even cover a month's payment of student loans for adams or his wife.

"my wife and i both went to college and the stimulus isn't going to pay our student loans for one month.

I mean it's not doing much for us."

People with student loan debt will have another month to take advantge of not having to pay their mandatory student loans and the pause on interest accural.

Live at university of alabama - huntsville, bridget divers, waay-31 news.