MACON, Ga. — In about seven weeks, student loan borrowers will start making payments again. Interest fees start back up in about three weeks after a break during the pandemic.
The Biden administration is opening up applications for a plan that could provide relief.
Macon Westside High School graduate Etta James is adding University of Georgia alumnus to her resume. Like many graduates, the reality of adulting can take some adjusting.
"In regards to our growing economy, it's throwing a lot of young people for a loop," says James.
James was one of the millions that tried to have loans forgiven under the Biden administration's student-debt relief plan.
"I planned to make my payments regardless if they were forgiven or not. It would have been a really good benefit if they were forgiven," says James.
Since a judge struck down Biden's original student loan forgiveness plan in June, his administration opened applications for another plan. That plan is called the SAVE plan.
David Oedel, a law professor at Mercer Law School, says the new plan helps a lot of Georgians.
"Georgia's the 4th biggest state in terms of the amount of loans that could be forgiven immediately," says Oedel.
The Save Plan was announced last year. If borrowers earn less than $32,800 a year for a single person, they won't be required to make payments. If borrowers keep up with monthly payments, their balance won't increase; James says she's still getting on her feet after graduating, so any loan relief will bring a sigh of relief for her.
"Everything is expense, expense, expense, and there's no saving," says James.