North Carolinians hoping the $900 billion COVID relief bill passed by Congress would include some help for those with student loans debt will be disappointed. The massive package failed to extend the suspension of student loan interest and payments, which will expire at the end of January.
Even before COVID-19, one in four student loan borrowers was in default or serious delinquency. Many worried about their ability to make student loan payments while covering other basic needs.
Rochelle Sparko with the Center for Responsible Lending joined Policy Watch’s Rob Schofield recently to discuss the crisis and the need for federal and state consumer protections in 2021 when it comes to debt-collection.