Noshin Hoque graduated from Stony Brook University early in the pandemic with about $20,000 in federal student loans. Instead of testing the 2020 job market, she enrolled at a master's program in social work at Columbia University, borrowing $34,000 more.
It gave her the comfort to enter a new stage of life. She got married to a recent medical school graduate, and they're expecting their first child in November. At the same time, they're bracing for the crush of loan payments, which will cost at least $400 a month combined. They hope to pay more to avoid interest, which is prohibited for them as practicing Muslims.
"The volume of borrowers going back on the system at the same time — this has never happened before," Rotunda said. "It's fair to say it's going to be bumpy." For Beka Favela, 30, the payment pause provided independence. She earned a master's in counseling last year, and her job as a therapist allowed her to move out of her parents' house.