PHOENIX - The COVID-era pause on student loan payments is coming to an end, and that means graduates with loans will have to start paying them back.
The loans have been frozen for a little over three years, and at one point, President Biden had unveiled a plan to cancel $10,000 in student loan debt for many borrowers. The plan, however, was struck down by the Supreme Court.
As of this week, they will officially start accruing interest once again. Repayments are set to start in October.
Those who have had the break, meanwhile, are not looking forward to starting up payments again.
"When they stopped, I was like ‘OK, I’m going to be in the clear. I’m going to be OK,’" said Megan Martinez. "And then, the restarting up, it’s kind of concerning."
Those who finished paying theirs off, meanwhile, say it's about time.
"People should learn how to pay their bills, and that’s basically the bottom line," said one person.
In August, hundreds of thousands of borrowers had the remainder of their student loan debt wiped out by the Biden Administration, but students just entering college are asking lots of questions, as their fall semester begins.
"Most of our questions are a bit more urgent, in terms of covering costs and paying tuition this week, but I do think that there’s an overriding kind of general concern about student loans, and understanding their options and having some reassurance that they’ll be able to repay when the time comes," said Art Young with the University of Arizona Office of Scholarships and Financial Aid.
Young also had some advice for students.
"Make sure that you have explored all of your options, in terms of repayment plans, and that you have your contact information current, so that it doesn’t do anything to damage your credit or your future," said Young.