Julia Carpenter
speaker
3,850 appearances
71 recordings
1 series
first heard Oct 2019
last heard Sep 2024
Julia Carpenter’s voice in public audio — every appearance, attributed to the second.
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Appearances
Where am I saving money?
Where am I spending too much money?
Where can you make room so that your budget can reabsorb that payment?
It's very understandable that people have that confusion, especially since we have had the pause extended so many times since it was first instituted in March 2020.
But as a provision in the debt ceiling deal, we know that student loan payments and interest accrual will restart in August.
So there's pretty much virtually no chance it'll be extended again.
So people probably saw the headlines when the plan was first announced, and we know that it provides up to $10,000 for qualified borrowers who make $125,000 a year and up to $20,000 for people in that same bucket who qualified for a public grant.
So it's a lot of money on the table.
People were very supportive of this.
This was something the president had promised.
But the court is weighing on the constitutionality of this, and we're expected to hear their decision later this month.
So whatever the court decides, yes, the plan can go forward or no, it won't.
We then have a two-month delay.
So if the plan goes forward, people won't just immediately log into their accounts and see their debt wiped out overnight.
If the plan doesn't go forward, I mean, we then have a different scenario.
Either way, though, whatever remaining debt you have, whether forgiveness moves on or not, that August 30th deadline is pretty firm now.
That's when the payments start again.
Understandably, financial advisors are saying no, though.
If you are holding out for that hope, you are not preparing for the other outcome.
And then you're in for a shock once this decision comes.
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