Federal student loan borrowers won’t have had to pay a dime of interest on their debt for nearly two years by the time the pandemic-era forbearance period ends in February.
While most of the focus on this relief has been on how borrowers have been able to skip payments altogether, data from the Department of Education suggests that not having to pay interest has saved borrowers more than $90 billion so far.
For those who’ve been able to take advantage of the interest-free period, it’s been a powerful opportunity to make headway paying down their debt. At the …
