Summary:

Key points:

– Federal student loan payments have resumed after a three-year pause due to the COVID-19 pandemic.
– Loan servicers and borrowers seem unprepared for the restart, with payment miscalculations being a common issue.
– Federal student loan servicers are using administrative forbearance to address these miscalculations.
– The Biden Administration has implemented a temporary 12-month program called the Student Loan “On-Ramp” Program to help borrowers transition back to making regular payments.

Hot take for physical therapists:

The resumption of federal student loan payments impacts physical therapists who have student loan debt. They should be aware of the potential issues with payment miscalculations and the availability of programs like the Student Loan “On-Ramp” Program to help them navigate this transition successfully. It is crucial for physical therapists to stay informed and take advantage of any assistance programs available to manage their student loan debt effectively.

Reference Article https://www.studentloanplanner.com/student-loan-on-ramp-repayment-program/