Join the SBPC for an event on Understanding Student Loan Repayment in 2022
Most students borrow money to help pay for their college education. Usually this means taking out federal student loans. By the time they graduate, the average Oregon student loan borrower owes over $38,000. In 2022, Oregonians have more than $20.5 billion dollars in education-related debt. An estimated 85,000 Oregonians are currently behind on these loans. With outstanding student loan numbers this large, it is, unfortunately, easy to think of this debt as the obligation of a lifetime.
The COVID pandemic only made this crisis worse. In 2020, as unemployment spiked around the country, 3.2 million students borrowed money for the first time. As a result, the nationwide total student loan debt balance increased 8.28% in 2020 to over $1.7 trillion dollars. In July, 2020, 11.2% of adults with student loan debt reported that they were unable to make a payment. On the brighter side, the federal government has suspended federal student loan payments during the pandemic, and that forbearance continues to this day. But soon, monthly loan repayments will start up again —and it’s important to be ready.
On Monday, March 14th at 12 PM PT, join the Oregon Attorney General, the US Department of Education’s Office of Federal Student Aid, and the Student Borrower Protection Center (SBPC) for a lunch hour webinar on student loan repayment in 2022. Presenters will provide updates on all the federal student loan programs, including the Public Service Loan Forgiveness (PSLF) program, guidance on how to navigate the new PSLF process, tips on how to prepare for loan payments to begin after the forbearance ends, and information about the new Oregon legislation—the student borrower’s bill of rights. Attendees will have an opportunity to ask questions through the “chat.” This event will be recorded. Please sign up and join us!