Student loan borrowers owe one point seven trillion dollars. The pause has cost the federal government about a hundred billion dollars. Less than 20 % of borrowers who are eligible have paid anything toward their student loans over the last two years because they've been using the money for other things.
The pause on federal student loan payments was just extended for the sixth time in two years. So...what's that been like for the borrowers, and what's in store for them when the system eventually restarts? | Subscribe to our weekly newsletter here. | Planet Money TikTok has been nominated for a Webby award! Cast your vote for us here.
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