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A single mother of two is concerned because she will have to pay an extra $600 per month on top of her regular expenses later this year.
This is due to the upcoming end of the hold on student loan bill repayments, which will require millions of people to pay more out of their paychecks.
Richelle Brooke, 35, of Los Angeles, California, will have to pay $600 more each month once the pause ends.
Americans are expressing their worries as student loan payments resume in the coming months.
There has been a three-year delay in federal student loan payments, which will end later this year.
The Biden Administration is asking debtors to prepare for the return of loan repayments in September.
This comes as the Supreme Court considers the administration’s student loan forgiveness program.
Furthermore, the recently enacted debt ceiling agreement includes a provision that eliminates pandemic-era federal support.
This makes it more difficult for the United States Department of Education to expand its loan forgiveness program to assist disadvantaged borrowers.
Ms Brooke is one of the former students speaking out when the aid runs out, disclosing how much more she will have to pay.
In the last two years, the single mother of two has had to contend with sky-high inflation, which has already had an impact on her income.
Her mother has also moved into Ms Brooke’s home because she can no longer afford the rent in Los Angeles.
Despite earning $100,000 as a high school principle, Ms Brooke’s student loan burden is $240,000, resulting in $600 in monthly installments.
Speaking to CNBC, she said: “I go grocery shopping and spend $300 or $400 for food that’ll last two weeks in my house.
“With an extra $600 a month, where is that going to come from?”
Education expert Mark Kantrowitz cited that almost all people eligible for the support have taken advantage of it.
Due to this, the average borrower has likely saved around $15,000 in student loan payments.
