Stu­dent loan restart: Pay­ments to begin again as fed­er­al pause ends in three days

As the COVID-19-era pause on stu­dent loan pay­ments ends in three days, mil­lions of bor­row­ers will have to resume their month­ly pay­ments.
With the pay­ments resum­ing for bor­row­ers as soon as Oct. 1, the amount bor­row­ers owe for the first pay­ment and when it is due will be sent out 21 days before the due date, accord­ing to the Depart­ment of Edu­ca­tion.
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Stu­dent loan pay­ments have been paused for bor­row­ers since the gov­ern­ment paused pay­ments when the coro­n­avirus pan­dem­ic hit the Unit­ed States in full force in March 2020. The pause has been extend­ed numer­ous times by the Biden admin­is­tra­tion, but fol­low­ing the pan­demic’s end in the U.S., pay­ments are set to resume in Octo­ber.
Inter­est on out­stand­ing stu­dent loans already resumed on Sept. 1 after it had been paused since March 13, 2020.
While pay­ments do resume next month, if bor­row­ers are unable to begin pay­ing their loans off at that time, a “tem­po­rary on-ramp” will exist through Sept. 30, 2024. Bor­row­ers will not be reporte …