October marked the end of our much-needed moratorium on student loan payments (read: if November isn’t at least the second month that you’ve paid down on your loans, you are behind on your payments). But fret not! You didn’t take that Biglaw job at a firm notorious for contributing to the climate crisis for nothing — the money is coming in! But even a six-figure salary might not cut it when your monthly student loan payments are also six figures. From MSN:
In a U.S. Department of Education memo, senior officials detail the errors made by its servicers as tens of millions of borrowers resumed their payments in October. The companies sent more than 21,000 people “very high” and “potentially incorrect” bills, according to the memo. One borrower was told they owed $108,895.19 for the month.
Are you one of the “lucky” 21,000? I’ll take a second for you to go check your balance. We good? Great. Balance looking a lot higher than what you initially agreed to? You should get started on fighting that balance sheet.
Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s. He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at cwilliams@abovethelaw.com and by tweet at @WritesForRent.