Author: Adriana Morga, Associated Press

As the 12-month grace period for student loan borrowers came to an end on September 30, the consequences for those struggling to make payments are becoming more apparent. With around 43 million Americans holding student loan debt totaling $1.5 trillion, the options for borrowers are narrowing. The SAVE plan, a new income-driven repayment plan aimed at providing affordable monthly payments, is currently on hold due to legal challenges. This, combined with the expiration of the on-ramp period and the Fresh Start program, leaves borrowers with limited alternatives. Defaulting on student loans can have serious repercussions, including damage to credit scores…