REMINDER: Interest on Federal Student Loans Resume on 9/1/2023 with Repayments in October
In case you missed it...
Interest on federal student loans resumed on September 1, 2023 and borrowers will be required to resume making monthly payments beginning in October 2023.
This was due to the U.S. Supreme Court 6-3 decision on June 30, 2023 ruling that the Biden administration does not have the authority to wipe out nearly half-a-trillion dollars in student debt and legislation passed by Congress which prevented further extensions of the federal student payment pause - ended the COVID-19 emergency relief for borrowers.
Since July 2023, the U.S. Department of Education's Office of Federal Student Aid (FSA) has posted various announcements and updates on studentaid.gov and emails were sent to borrowers of federal student loans to help prepare borrowers for repayment.
For more information, visit FSA's Preparing For Payments to Reume page.