Student loan payments resume on October 1st

(ABC 6 News) – It’s a day college graduates have been anticipating for a while now. On Sunday, after more than three years on pause, student loan payments will start up again.

The Wall Street Journal estimates with payments starting again in just a few days it could pull about a hundred billion dollars of spending out of the economy over the next year.

“I think it was great that they did not have them pay during the pandemic, but I think now is the time you got to pay it back I think they should have to start to pay them. I don’ think everything should be free,” said Linda Smith.

But some current students think a bit differently. University of Minnesota: Rochester senior Samantha Rudnick says her friends are already scrambling trying to keep up payments they have right now.

“They are stressed out and having to pick up more hours and then that interferes with their schoolwork. So, they are either paying for school or falling behind. So, it’s kind of hard,” said Rudnick.

Samantha says tuition is about 10 thousand dollars a semester and she’s thankful her parents are helping pay for her college.