July 25, 2021

Post-pandemic student loans

Post-pandemic student loans

ROCKFORD, Ill. (WIFR) – As the pandemic-related moratorium on student loan payments lifts, and the Biden Administration’s plans for loan forgiveness take shape on Capitol Hill, paying back thousands for higher education are at the top of mind for many recent graduates.

That, combined with the stresses that accompany finding a post-college job, can make the process feel overwhelming. This often causes people to make money mistakes that can easily be avoided.

Experian’s senior director of consumer education and advocacy Rod Griffin talked with WIFR on Thursday.

“You don’t have to accept all of the money that the lender says they’ll give you when you’re standing in line. So that’s the first thing. Take only what you need, or the loan amount that you need. But when you’re out, make sure you’re making those payments on time. Because that will get you in deeper trouble than anything else faster,” Griffin said.

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