Student loan repayment is on hold: Should you pay anyway? Financial expert weighs in

Interview: Student debt repayment w/ Financial Expert Mark Henry
Published: Sep. 20, 2022 at 2:12 PM EDT
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ATLANTA, Ga. (CBS46) - About 43 million Americans have student debt, with the total amount of federal student debt reaching more than $1.6 trillion.

In March of 2020, the federal government granted student loan borrowers a repayment freeze, giving students and graduates a chance to focus their money elsewhere while taking advantage of 0 percent interest rates.

In a tweet made in late August, President Joe Biden said the repayment freeze would be extended one final time, with the pause expected to end on Dec. 31, 2022.

As students reel in their final months free from the pressures of paying down thousands of dollars in debt, some are choosing to wait until after the repayment freeze ends. But is that the best approach? We asked Financial Expert and Alloy Wealth Management Founder Mark Henry.