Cheryl Winokur-Munk

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1,406 appearances 26 recordings 2 series first heard Apr 2019 last heard Jun 2025

Cheryl Winokur-Munk’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Student-Loan Repayments Are Resuming Soon. Are You Ready? · 8 Feb 2022 podcast
So that's a really important tool that borrowers have.
If you aren't eligible for one of those income-driven repayment plans, you can still talk to your servicer to see what other options may exist.
So there are many people who may be in the position where they have to take extra steps to be able to afford their payments once these payments start up in May, as expected.
So a study in November from Bankrate and bestcolleges.com
found that three in five borrowers who earn at least $100,000 a year will need to take some form of additional action to pay down their student debt.
That's a pretty big percentage.
And that figure actually climbs to 71% for those earning between $50,000 and $99,999 a year, and to 72% for those earning less than that.
So it really is many, many borrowers who may have to take additional steps to be able to afford their payments.
So for most borrowers, the answer is no.
Most borrowers are going to need to opt in again, and that's according to federal student aid.
So you're really going to want to review your auto debit enrollment or sign up for the service before payments resume.
You want to check with your servicer, just make sure that you're still set up for that.
So it's possible, but many borrowers are going to have the same interest rate.
But that may not be the case if, for example, you consolidated your loans during the pause.
So you're going to want to, again, contact your servicer for details about your rate.
The real important information at this point for people who are trying to just get themselves organized is,
is to contact your servicer.
Make sure auto debt payments are set up.
Make sure your address and everything is correct.
Make sure you know what your monthly payment will be.
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