Unnamed Speaker

It's a hard number to conceptualize, right? But the way I think about it is that if you don't have student loans yourself, then you probably know somebody who has student loans.

It's a hard number to conceptualize, right? But the way I think about it is that if you don't have student loans yourself, then you probably know somebody who has student loans.

It's a hard number to conceptualize, right? But the way I think about it is that if you don't have student loans yourself, then you probably know somebody who has student loans.

Our colleague Oyen Ededoyen covers personal finance. And for the past five years, she says paying those federal student loans felt more or less optional.

Our colleague Oyen Ededoyen covers personal finance. And for the past five years, she says paying those federal student loans felt more or less optional.

Our colleague Oyen Ededoyen covers personal finance. And for the past five years, she says paying those federal student loans felt more or less optional.

The Biden administration will extend the pandemic-era freeze on those loan payments through August.

The Biden administration will extend the pandemic-era freeze on those loan payments through August.

The Biden administration will extend the pandemic-era freeze on those loan payments through August.

We're coming off of the piggyback of the pandemic, right? And that was a period where student loans virtually didn't exist. There were a lot of starts and stops when it came to student loan payments. You know, a lot of people were put in forbearance. A lot of people were put on pause. And so it seemed like we were in this very different, almost Twilight Zone effect when it came to the world.

We're coming off of the piggyback of the pandemic, right? And that was a period where student loans virtually didn't exist. There were a lot of starts and stops when it came to student loan payments. You know, a lot of people were put in forbearance. A lot of people were put on pause. And so it seemed like we were in this very different, almost Twilight Zone effect when it came to the world.

We're coming off of the piggyback of the pandemic, right? And that was a period where student loans virtually didn't exist. There were a lot of starts and stops when it came to student loan payments. You know, a lot of people were put in forbearance. A lot of people were put on pause. And so it seemed like we were in this very different, almost Twilight Zone effect when it came to the world.

Like a state of suspension. Yes, exactly. We were all kind of like, you know, fumbling about in outer space, not sure what the rules were. And now it seems like we're back on Earth. We're back in reality.

Like a state of suspension. Yes, exactly. We were all kind of like, you know, fumbling about in outer space, not sure what the rules were. And now it seems like we're back on Earth. We're back in reality.

Like a state of suspension. Yes, exactly. We were all kind of like, you know, fumbling about in outer space, not sure what the rules were. And now it seems like we're back on Earth. We're back in reality.

That's because last month, the Department of Education made an announcement.

That's because last month, the Department of Education made an announcement.

That's because last month, the Department of Education made an announcement.

Federal student loans are officially being referred to collections again. Millions of people now have to come up with the money or lose more of it.

Federal student loans are officially being referred to collections again. Millions of people now have to come up with the money or lose more of it.