(WTNH) – Student loan debt repayments are resuming for millions of Americans and now some borrowers are scrambling to rebalance their budgets. We are Stretching Your Dollar with what some people can do to save money.

As students begin to pay back their student loans this month, payments for the average borrower range between two and three hundred dollars.

Money that when freed up during the three-year pause, some families found it allowed them to get ahead on their own family savings. Although now, they’ll have to pull back.

“It’s just a tightening of the belt across across all areas. You need to live in a house, you need to pay groceries. And then you kind of have to figure out where to scrimp and save,” said mother Sarah Wood.

“It makes it a moving target when we’re trying to adjust our habits in the face of paying these payments and having a kid. Not only do you have to figure out all of that, but now you need to do it while the cost of everything is fluctuating so much,” said Michael Lopez.

As you get back to paying, the Education Department has established a one-year grace for borrowers who miss payments and rolled out a new plan called “SAVE” that could lower some people’s payments, depending on their monthly income.

You can go to studentaid.gov to calculate bills under that plan.

The Biden administration is also looking into a new potential student debt relief policy that focuses on people who are the hardest hit financially. The Education Department is meeting with a committee meeting next week to discuss policy ideas, but that’s still months away from being finalized.