Unnamed Speaker

But now, that grace period is over. How that's hitting borrowers is next. Student loan repayments officially restarted back in 2023. The problem was that many borrowers didn't know about it.

People had gotten used to not paying for at least three years by that point. And a lot of people maybe tuned out. A lot of people moved. And so they weren't even getting these notifications from their loan servicers, which are companies that collect student loans on behalf of the government. You know, they weren't getting maybe updated emails that, hey, it's an on-ramp period.

People had gotten used to not paying for at least three years by that point. And a lot of people maybe tuned out. A lot of people moved. And so they weren't even getting these notifications from their loan servicers, which are companies that collect student loans on behalf of the government. You know, they weren't getting maybe updated emails that, hey, it's an on-ramp period.

People had gotten used to not paying for at least three years by that point. And a lot of people maybe tuned out. A lot of people moved. And so they weren't even getting these notifications from their loan servicers, which are companies that collect student loans on behalf of the government. You know, they weren't getting maybe updated emails that, hey, it's an on-ramp period.

You might want to start paying your loans again. They weren't getting phone calls. They weren't getting letters to the right address. And so... This on-ramp period, though set out with good intentions, caused a lot of confusion for borrowers who weren't really sure what was happening with student loans. Were they on again? Were they off again?

You might want to start paying your loans again. They weren't getting phone calls. They weren't getting letters to the right address. And so... This on-ramp period, though set out with good intentions, caused a lot of confusion for borrowers who weren't really sure what was happening with student loans. Were they on again? Were they off again?

You might want to start paying your loans again. They weren't getting phone calls. They weren't getting letters to the right address. And so... This on-ramp period, though set out with good intentions, caused a lot of confusion for borrowers who weren't really sure what was happening with student loans. Were they on again? Were they off again?

Contributing to that confusion was the fact that borrowers who didn't start repaying didn't face any consequences. Remember, during that on-ramp period, missed payments weren't reported to credit bureaus. But late last year, that changed.

Contributing to that confusion was the fact that borrowers who didn't start repaying didn't face any consequences. Remember, during that on-ramp period, missed payments weren't reported to credit bureaus. But late last year, that changed.

Contributing to that confusion was the fact that borrowers who didn't start repaying didn't face any consequences. Remember, during that on-ramp period, missed payments weren't reported to credit bureaus. But late last year, that changed.

My credit score failed 250 points, y'all, two weeks ago because of my student loans. Guess who just got done crying because her credit score went from a six to a four. Me.

My credit score failed 250 points, y'all, two weeks ago because of my student loans. Guess who just got done crying because her credit score went from a six to a four. Me.

My credit score failed 250 points, y'all, two weeks ago because of my student loans. Guess who just got done crying because her credit score went from a six to a four. Me.

The interesting thing about student loans is that unique to other credit or borrowing products, student loans don't get reported to credit bureaus until they are 90 days late or more. So if you've missed one month or two months, you might not even know that until you've missed three months of payments. And at that point, it can really start to impact your

The interesting thing about student loans is that unique to other credit or borrowing products, student loans don't get reported to credit bureaus until they are 90 days late or more. So if you've missed one month or two months, you might not even know that until you've missed three months of payments. And at that point, it can really start to impact your

The interesting thing about student loans is that unique to other credit or borrowing products, student loans don't get reported to credit bureaus until they are 90 days late or more. So if you've missed one month or two months, you might not even know that until you've missed three months of payments. And at that point, it can really start to impact your

your credit score, and other factors of your financial health. So a lot of these people realized that they were more than 90 days delinquent on their student loans in like February or March of this year.

your credit score, and other factors of your financial health. So a lot of these people realized that they were more than 90 days delinquent on their student loans in like February or March of this year.

your credit score, and other factors of your financial health. So a lot of these people realized that they were more than 90 days delinquent on their student loans in like February or March of this year.

And this month, some defaulted borrowers could see even more serious consequences. Their loans could go into collections. Kristen isn't in default. Her loans are currently in forbearance. But she is worried. If you did have to start repaying your loans at this point, what would that mean for you?