Stu­dent loan restart: Pay­ments to begin again as fed­er­al pause ends in one day

Mil­lions of bor­row­ers will have to resume their month­ly pay­ments when the COVID-19-era pause on stu­dent loan pay­ments ends in one day.
The amount bor­row­ers owe for the first pay­ment and its due date will be sent out 21 days before the dead­line, accord­ing to the Depart­ment of Edu­ca­tion. Pay­ments will resume for bor­row­ers as soon as Oct. 1, regard­less of if the gov­ern­ment shuts down.
GOVERNMENT SHUTDOWN: WHAT WILL BE OPEN AND WHAT WILL BE CLOSED
Stu­dent loan pay­ments were paused for bor­row­ers when the coro­n­avirus pan­dem­ic hit the Unit­ed States in full force in March 2020, and since then, the pause has been extend­ed numer­ous times by the Biden admin­is­tra­tion. As the pan­dem­ic has end­ed 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 report­ed …