Public policymakers have taken up the cause of the financially backbreaking level of student loan debt in the U.S., creating a good news/not-so good news scenario for everyone with a stake in the situation.

One development: the pause on student loan payments ordered by the U.S. Department of Education in March, 2020 has been extended through August 31, 2022. For eligible loans, this means:

• a suspension of loan payments;
• a 0% interest rate;
• Suspended collections on defaulted loans.

This has benefitted 37 million Americans. Unfortunately, 83% of them have been unable to pay down much, if any, of that debt during the pause. And between inflation and general financial ill-health of Americans even before the pandemic, many will find it difficult to shift the money they've re-allocated to other debts back to their student loans when the freeze is over.