And if you have other major monthly bills beyond student loans, now’s the time to take a good look at your spending habits and budget. This could mean reevaluating your current lifestyle.

If you already have student loans in default If you had student loans in default before forbearance began, you should enroll in a temporary government program called Fresh Start, which allows you to get your student loans back in good standing, build your credit score and sign up for an IDR plan.

This article Student Loan Borrowers Will Struggle With Repayment, CFPB Warns was originally published on NerdWallet on June 8, 2023.

ELIZA HAVERSTOCK is a writer at NerdWallet.


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