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U.S. Student-Loan Forbearance Saved Borrowers $37.8 Billion

The pandemic-era forbearance on federal student loans saved U.S. borrowers $37.8 billion in interest payments through 2021, according to data released by the Bureau of Economic Analysis on Thursday. 

Payments were frozen in March 2020 as part of an unprecedented package of Covid-19 measures, providing relief to about 43 million of Americans who owed an estimated $1.6 trillion in student debt as of the end of last year.