With US student loan payments pause set to end, debtors seek cancellation

[turbinetree]

Lauren Aratani
Sun 3 Apr 2022 05.00 EDT

Farzad Kapadia has been paying off his $130,000 in student loans since 2012.

During the pandemic, a pause on federal student loan payments set in March 2020 temporarily lifted the burden for Kapadia, 40, though he continued to make payments on smaller loans with private lenders.

“I can’t describe the amount of relief it’s given me. It’s been life-changing,” Kapadia said. “Prior to the moratorium, I would burn through every single check, I’d have nothing left at the end of the month. I’d be going into credit card debt.”

https://www.theguardian.com/money/2022/apr/03/student-debt-pause-payments-relief

[jimfields33]

1. I'd be for no interest for two years

That would help a lot.

[Johnny2X2X]

4. No interest permanently

And make it retroactive. You pay back what you borrowed. No one should be making a dime of interest in student loans. If you borrowed $50k and have made $20k in payments but still owe $40K because of interest your balance should be amended to $30K.

[jimfields33]

5. I actually agree with that.

[WhiskeyGrinder]

2. With pause set to end, it should be extended.

[InAbLuEsTaTe]

3. It's time to give students a break for a change instead of billionaires.