Their surging student-loan payments are pushing them to slash their budgets and delay life milestones
Source: Business Insider ·
From cutting back on groceries to delaying starting a family, student-loan borrowers describe the changes they're making to afford higher payments.
From the source
Student-loan borrowers are cutting back on home purchases and groceries to afford higher monthly payments.Matteo Della Torre/Getty Images; Alyssa Powell/BICristian Barcenas is getting ready to cut out date nights, food delivery, and Starbucks.He graduated from the University of California, Fresno, in 2013 with a student-loan balance of about $65,000. Barcenas took out additional loans to pursue a master's degree, but left early to care for his father, who had cancer. His balance now stands at $127,000.Barcenas, who works full time in sales in California, was making $105 monthly payments under the Biden-era SAVE repayment plan. President Donald Trump eliminated SAVE, and in November, Barcenas' payments are expected to spike to $815 per month."When I saw how much the payment is expected to be, I freaked out for a whole week," the 40-year-old said. "I, under no circumstances, want to default."Barcenas and his wife combed through all their expenses over the past three months. He said it…