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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WSJ Your Money Briefing · Student-Loan Repayment Freeze Is Ending. Are Your Finances Ready? · 5 Jun 2023 podcast

I was speaking with financial advisors who were saying you should plan for the scenario in which payments do resume and forgiveness does not happen.

In that case, you're prepared.

It's not going to be this huge blow to your budget.

I was speaking with Scott Buchanan.

He's the executive director of the Student Loan Servicing Alliance.

So he has talked to a lot of people about what this is going to mean for the system, specifically what this is going to mean for borrowers trying to contact their servicers.

So his recommendation was call your loan servicer now.

Call them, go over the terms of your loan, go over your monthly payment, go over, you know, am I in the right payment plan?

Are there changes I can be embracing?

All these different things, because come August, as soon as we're creeping up on that August 30th deadline for payment resumption, millions of other borrowers are going to be calling and we're going to be clogging the phone lines.

So his recommendation, call sooner rather than later.

I've spoken with a lot of borrowers who say, you know, originally they were setting aside that money.

They were thinking, okay, I'll put it in savings or I'll put it towards something else so that when payments resume, I'm ready.

And then inflation has just been growing around all of their budgets, eating up more and more.

So inflation ran up to near 10%.

And even though inflation has now come down, prices are still rising and people have baked this into a lot of their budgets.

Three years is a really, really long time.

So as we heard last week on your show, JR, many people took on bigger spending habits during the pandemic.

So I was speaking with financial advisors.

They say the best thing to do right now is to try and get

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