Students at Colorado Mesa University are facing a wave of emotions as the federal government prepares to resume collecting defaulted student loans for the first time since 2020. For some, it’s a looming cloud. For others, just another line item on their budget sheet.

The U.S. Education Department confirmed it will restart collections on May 5th, ending a pandemic-era pause that shielded millions of borrowers for over four years. On campus, reactions are anything but one-sided.

Financial Worries Hit Home for Budget-Conscious Students

For Kayla McKibben, a junior at CMU, the news brings a fresh layer of anxiety.
“It’s kind of a concern,” McKibben said, glancing down at her planner stuffed with budgeting notes.
“I’m pretty budget-oriented, so I take care of my money pretty well. However, it’s quite a concern since there’s always the unknown in things.”

Her worries aren’t unique. Several students admitted that even with careful planning, the uncertainty about how aggressively loans would be collected gnaws at their sense of security.
One sentence says it all: financial fear doesn’t always come from mismanagement — sometimes it’s just about the fear of the unknown.

First-generation students like McKibben also face an extra hurdle: a lack of family guidance.
“My parents and I aren’t really familiar with how college works and student loans and all of that,” she explained, her voice trailing off. “I don’t want to put that responsibility on them.”

Some Students Say They’re Ready for the Challenge

Meanwhile, not everyone is sweating bullets. Some students feel ready — or at least resigned.
Olivia Payne, another junior, shrugged off the change with quiet confidence.
“I’m pretty confident I’ll be able to pay them off,” she said. “I’ve been prepared to have loans and know what my balances are so that I know how much I’m going to have to pay back before I head myself into delinquency.”

There’s a sense among some that the writing has been on the wall for years. These students didn’t expect a free pass forever — and they planned accordingly.

In fact, a few students even expressed support for the government’s decision to resume collections. Caleb Freeland, a freshman, put it bluntly: “I feel like they know what they’re doing in that situation.”

That kind of trust is rare these days. Especially when it comes to government and money.

Interestingly, those who favor the resumption didn’t do so blindly.
They voiced hopes for improvements too, such as:

• Implementing flexible repayment options

• Offering better communication about deadlines

• Creating safeguards for low-income graduates

A Fresh Start, but Students Want More Time

Even those who support the restart think the government could soften the blow a little.
Noah Richmond, a freshman still new to the maze of college finances, said, “I feel like there should be little grace periods, but it just depends on the circumstance.”

Grace periods might seem small, but for someone balancing school, work, and loans, even a few extra months could mean the difference between stability and financial panic.
Others nodded along with Richmond’s suggestion.
A few said privately they wish repayment plans were “customized based on career fields” since not every degree delivers the same paycheck right out of college.

Here’s a quick look at how different majors might impact loan repayment:

One sentence here: not every student walks into six-figure salaries, and policymakers rarely act like they notice.

Graduation Timelines Stay Steady Despite Financial Jitters

One might expect a shift in graduation plans with debt looming larger again — but that’s not happening at CMU.
Students seem determined to stick to their original schedules, despite the financial shake-up.

“No changes for me,” said Payne, adjusting her backpack stuffed with textbooks.
Richmond echoed the sentiment, saying, “If anything, I just want to get done sooner.”

Delays cost more money. More tuition. More living expenses. And nobody’s eager to stretch the bill any further than necessary.

Some students admitted they’re hustling harder — picking up extra shifts, working side gigs, tightening their belts just a bit more — to keep their academic dreams alive without falling into deeper debt.

A few noted that the coming loan collections served as a wake-up call:
Maybe it’s time to start thinking about what happens after graduation — not just what classes to take next semester.