Student debt payments have resumed

Student Debt Crisis Center (SDCC) Dear Supporter, It’s official, after 3.5 years of a freeze on federal student loan payments, they have resumed. Frankly, we are frustrated and upset with the current situation that more than 43 million borrowers are facing this month. However, we have been hard at work to ensure borrowers have the information they need to make smart decisions. While SCOTUS ruled against the initial plan for student debt relief, we are committed to supporting borrowers and continuing to fight for broad-based student debt cancellation. While we are working to educate and inform borrowers, we are committed to keeping the people-powered, cancel student debt movement going. We are working with lawmakers and have been very clear, we will not stop until the more than 43 million student loan borrowers receive broad-based relief. If you haven’t already, add your name to our petition demanding widespread student debt cancellation. We’ve heard from many of you that you don’t feel you have the information you need. We’re chiming in to share some important notes to help you feel more prepared. The Biden Administration previously announced a few programs to support borrowers as payments resume. On-Ramp to Repayment Provides eligible borrowers (hint: if you benefited from the payment pause, you’re eligible) with a 12-month reprieve on defaults, should they miss a payment during this time. Does not require an application and will be in effect until September 30, 2024. It’s important to note that if borrowers take advantage of this program, interest will accrue and this time will not count towards PSLF or IDR cancellation (forgiveness) programs. Saving on a Valuable Education (SAVE) Income-Driven Repayment (IDR) plan The most affordable repayment plan to date. Protects more borrower income and prevents interest accumulation for borrowers who make their minimum monthly payments; ensuring that borrowers who are in good standing will never see their balance grow. To learn more and apply, head over to www.studentaid.gov/save. We know this isn’t the scenario any of us wanted, but we will continue fighting for an end to the student debt crisis. In the meantime, we will always do our best to provide you with the information you need to make the best decisions for you and your family. In solidarity, The Student Debt Crisis Center (SDCC) Team Student Debt Crisis Center (SDCC) is a 501(c)(3) nonprofit that centers the needs and voices of borrowers, and partners with allies, to impact public policy and end the student debt crisis. We are a people-powered movement representing over 2 million supporters. Donations to SDCC are tax deductible to the full extent of the law. Student Debt Crisis Center (SDCC) Like us on Facebook Follow us on Twitter Follow us on Instagram You're receiving this message because you signed a petition started by Student Debt Crisis Center. MoveOn Civic Action and MoveOn Political Action do not endorse the contents of this email or the petitions posted on MoveOn's public petition website. If you don't want to receive emails from Student Debt Crisis Center in the future, please click here to unsubscribe. For Colorado residents: view your data privacy policy choices here.