All you need to know about the return of federal student loan payments
Borrowers who fail to make their monthly payments won’t be reported as delinquent to credit bureaus, but there will be other repercussions.
By Michael Stratford
09/25/2023 03:13 PM EDT
Tens of millions of Americans are gearing up to make student loan payments in the coming weeks for the first time in years as a pandemic-era reprieve finally comes to an end.
Payments have already begun pouring into the Education Department as some borrowers begin to repay. But the major test for the federal student loan system — and the Biden administration — lies ahead when official due dates arrive in October.
Individual borrowers face a series of decisions about how to repay: whether they should enroll in the Biden administration’s income-driven repayment program or avail themselves of a new, temporary forbearance option that postpones payments but drives up interest costs.
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https://www.politico.com/news/2023/09/25/student-loan-payments-resume-what-to-know-00117958
