Student loan borrowers all over Michigan are about to feel the squeeze as loan repayments have new resumed.
Laltsha Cunningham is with the Financial Education Manager at Gesher Human Services in Southfield. She says people are experiencing anxiety, but wants them to know they have options.
“They’re worried,” Cunningham said. “They’re concerned because a lot of things have increased. Gas has increased, the interest rates have continually risen from the government. So, they’re feeling little bit worried and uncomfortable.”
Cunningham says the combination of inflation and payments starting again is making people feel pressured.
The average federal loan debt is $37,000. It’s $55,000 for private loans.
