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HTLA: The Return Of Student Loan Payments
An illustration of a girl with hands on top of her head at a desk.
(
Maria Grejc for NPR
)
Topline:
Starting Oct. 1, financial aid borrowers nationwide will again have to pay student loans back. Here’s what you need to know.
Why now: The federal government paused student loan payments for borrowers during the COVID-19 pandemic. More than three years later, things are now changing. Interest started to accrue this month and beginning next week, borrowers will be required to make payments.
Why it matters: For student borrowers who recently took out loans, they've never been through the repayment process. And for those who have not paid in three years, they may have forgotten how to do it. It is essential all borrowers get caught up on what they need to do. For the latest How To LA episode, host Brian De Los Santos speaks with NPR’s Cory Turner for tips on how to navigate repayment.
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Listen to the episode:
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21:45
Student Loans are Back, Are You Ready?
The backstory: Americans hold an estimated $1.77 trillion in student loan debt. How to LA talks to LAist reporter Julia Barajas about how student loans became this financial behemoth. After World War II, Congress passed the G.I. Bill and the Higher Education Act of 1965 to make college more accessible, paving the way for several federal student loan programs. Then in the 1980s, President Ronald Reagan cut federal education funds. California also played a role in policies that led to the rising costs at the University of California and other state schools — systems that did not charge tuition to in-state students (only small fees) prior to the mid-1960s.
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Thank you for your generous support and belief in the value of independent news.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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