Stu­dent loan restart: Pay­ments to resume in 10 days as fed­er­al pause ends

Pay­ment day for bor­row­ers of fed­er­al stu­dent loans is draw­ing near, as a 3–1/2‑year hia­tus comes to an end in 10 days.
Fed­er­al loans began accru­ing inter­est again on Sept. 1 after the Depart­ment of Edu­ca­tion’s COVID-era fed­er­al pause end­ed. Pay­ments for stu­dent loans have been paused since March 2020, when the COVID pan­dem­ic began to affect the Unit­ed States, but the tem­po­rary halt has been extend­ed mul­ti­ple times by the Biden admin­is­tra­tion.
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How­ev­er, the Edu­ca­tion Depart­ment will not report missed stu­dent loan pay­ments as delin­quent which could affect your cred­it, nor will they place bor­row­ers in default. This will be in effect for a 12-month “on-ramp” peri­od to give grace to those who have missed, late, or par­tial pay­ments.
“We will not report you as delin­quent dur­ing the on-ramp, but we do not con­trol how cred­it scor­ing com­pa­nies fac­tor in missed or delayed pay­ments. Only loans eli­gi­ble for the pay­ment pause are eli­gi­ble for on-ramp,” the depart­ment said about its on-ramp guid­ance.
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