00:00 federal student loan paym
00:02 for around 30 million Amer
00:05 pause due to the pandemic
00:08 who are now facing hundre
00:10 and repayments may be cons
00:13 debt strike. The debt coll
00:16 organizing the strike say
00:18 the government to erase s
00:21 to students pay nothing p
00:24 loans through options suc
00:26 defense to repayment, sig
00:29 driven repayment plans, he
00:32 or using the 12 months st
00:35 But there are risks to go
00:37 there is currently a 12 m
00:40 period starting october 1
00:43 encourages borrowers who
00:45 their payments to do so.
00:47 if you can't afford to pa
00:50 won't yet go to collectio
00:53 won't be sent to the cred
00:56 borrowers decide to take
00:58 accruing interest and mis
01:01 towards the necessary num
01:04 to qualify for some loan
01:07 And if they have taken th
01:10 then if they are just one
01:11 next payment after the 12
01:14 becomes delinquent after
01:17 loan experts say the miss
01:19 reported to credit bureau
01:21 your credits for once it'
01:25 will default. Once that h
01:27 be sent to a collections
01:29 withhold your tax refund
01:32 benefits. The agency coul
01:35 Some experts warned that
01:37 or deciding to join a dea
01:39 to long-term damage on your credit.
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