Distribution of use of funds during paused student loan repayment period U.S. 2022
A survey in March 2022 found that 52 percent of respondents used the extra money from the moratorium on federal student loan repayments to pay for other household expenses such as rent/mortgage or groceries. A further 30 percent used the funds to pay off other debt.
Starting in March 2020, federal student loan payments were paused, meaning that no interest accumulated and no payments were necessary.
Starting in March 2020, federal student loan payments were paused, meaning that no interest accumulated and no payments were necessary.
