A new NerdWallet survey found that multiple generations will feel the weight of student loan debt when the pause on payments comes to an end in January.

Gabriella Pulice is in her final semester at Farmingdale State College. That means she will soon have to start making student loan payments and right now she is not sure where that money will come from.

"When you're out of high school you don't really know the consequences of taking out all these loans," says Pulice. "And there's really nothing you can do when you graduate. You're expected to pay them back."

The current pause on student loan payments because of the pandemic will end on Jan. 31.

Jonathan Goldberg is still taking classes at Farmingdale State College but he's already thinking about how he will pay off his loans after graduation.

"You have to be conscious about the money you're willing to borrow and at the rates you're taking it on," says Goldberg. "So you just need to be future oriented."

According to NerdWallet, 34% of parents who borrowed for their child's education say they are not confident they'll be able to start making payments right away. It also found that 28% say they are counting on student loan forgiveness.

Financial planner Mitchell Goldberg says parents are putting their own retirements at risk by taking out loans for their children that they can't afford.

"Keep in contact with your lender," says Goldberg. "Let them know your situation. There are going to be and there are programs where you can get a longer period of forbearance."

Some students at Farmingdale say they are hoping the federal government will give them a break.

Sen. Elizabeth Warren is pushing hard to cancel up to $50,000 in student loan debt for individual borrowers. Experts say with the Biden administration trying to pass a $3.5 trillion infrastructure package, student loan forgiveness may be on the back burner.