I mean…I still owe $8K and I spent the last three years paying directly to the principal as well. That said, I still hate this. Rather than being able to pay off in another year or so, it’s going to be closer to five years.
There’s options available. Like, how about a “step up” rather than just reopening the floodgates? Turn on the repayments, but not the interest. How about keep the interest off the last $20K if you’re not in the rears? Allow people to get a chance to make progress on their debts, or at least give an incentive on keeping the payments current.
A direct return to the status quo doesn’t get lenders their money in a time of rising rates, and it definitely doesn’t help those in debt nor the overall economy.