By the time you’re listening to this episode, we’re about a month away from the federal student loan payments pause ending.
With the federal student loan debt forgiveness program in the throws of legal and political battles, millions of borrowers will be forced to begin payments.
As of the release date of this episode, the Supreme Court has not made a ruling. If they don’t by June 30, 2023, borrowers will be expected to start repaying student loan payments within 60 days. Interest will begin accruing as well.
I’ve been working with my clients to help prepare their budgets for the added expense, but not many have that luxury.
Today, I’m talking with Nika of Debt Free Gonna Be about all things student loan payments.
Nika has been a fantastic resource for student loan news and updates and she’s here to help shed some light on what’s coming for student loans.
If you have student loans, if you’ve applied for forgiveness, or if you just want to be up to date with the current climate, don’t miss this episode!
Here’s a glance at this episode:
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- [06:35] Nika shares what her debt-free journey looked like and how she was able to get rid of over $180,000 in debt.
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- [16:24] Nika had her student loans forgiven and she shares how she was prepared and acted as soon as the application was open.
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- [20:56] Struggling with money can be equated to struggling with food. Not understanding your triggers can undo your progress.
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- [30:00] Applying for PSLF? Make sure you complete the application right the first time around to avoid unnecessary delays.
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- [40:36] Nika recommends having at least one months’ worth of expenses saved for emergencies before you aggressively start paying down debt.
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