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Student-Loan Freeze Saves Borrowers Nearly $200 Billion as Biden Considers Extension [1]

['Gabriel T. Rubin']

Date: 2023-05

Navient’s recent $1.7 billion settlement will erase student debt for about 66,000 borrowers. WSJ’s Josh Mitchell breaks down the settlement and explains which borrowers will receive debt relief. Photo: Storyblocks

Around 37 million federal student-loan borrowers were spared $195 billion in loan payments since the government froze their payments at the onset of the pandemic, and many of them are likely to struggle with their debts when the moratorium is lifted, according to a report released Tuesday by the Federal Reserve Bank of New York.

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[1] Url: https://www.wsj.com/articles/student-loan-freeze-saves-borrowers-nearly-200-billion-as-biden-considers-extension-11647957600

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