COVID-19 emergency relief for federal student loans is ending this year. The U.S. Department of Education has announced that student loan interest will resume starting September 1, 2023, and payments will be due starting in October; borrowers will be notified before payments resume.
Do you know your student loan balance? Your servicer should contact you to remind you that you need to start making payments again. Borrowers should take this time to prepare for the deadline by doing the following:
- Make sure all contact information, including your email address, is up-to-date with your student loan servicer so you can be informed about any changes that might impact your reentry to repayment.
- If you’ve disabled autopay, set a calendar reminder to reinstate it before payments are set to begin.
Our Student Loan Advisors Are Here to Help
If you have any concerns regarding the resumption of payments, our dedicated team of Student Loan Advisors is available to review your current situation and provide in-depth explanations of the loan management options that are available for your unique needs.
We’ll help you navigate and select the repayment plan that best suits your circumstances, including assisting in contacting your loan servicer to initiate the application process.