US student loan payment pauses double since 2024: Here's why millions are struggling to repay

The number of US federal student loan borrowers pausing payments has more than doubled since 2024, with over 13 million in forbearance or deferment. The repeal of the Biden-era SAVE plan and delays in income-driven repayment applications have worsened repayment struggles. Borrowers face higher monthly payments and growing loan balances due to accruing interest, impacting long-term financial goals such as buying a home or saving for retirement, as reported by the CNBC.

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