Student Loan Repayment Resumes in a Few Short Weeks: 4 Important Dates Borrower Need to Know
The student loan repayment pause has been in effect since March 2020, but it's finally set to come to an end in just a few weeks. But when do you actually have to make a payment on your loans? When does the Department of Education start charging interest again? Here's a rundown of the important dates all federal student loan borrowers need to know.
In May, the Biden administration and Congress reached an agreement to raise the federal debt ceiling. As part of the agreement, both sides agreed that the student loan repayment and interest pause will end after Aug. 30.
While the pause was set to end this fall anyway, it's fair to say that many borrowers weren't exactly convinced it was going to happen until the debt ceiling deal passed. After all, since the pause was implemented in March 2020, it has been extended eight times. But the debt ceiling deal legally prohibits the Department of Education from using its authority to extend the repayment pause.
Source Fool.com
