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Student Loan Payments Resume: What You Need to Know


The situation improves, the government is set to resume these payments. Details you need to know about the resumption of student loan payments resume.

Understanding the Suspension

The suspension of student loan payments was a relief for many borrowers. This measure was implemented as part of the CARES Act in March 2020, allowing borrowers to halt their federal student loan payments and setting the interest rate to 0%. It was a much-needed reprieve during a time of financial uncertainty.

The Resumption Date

As the economy stabilizes and the job market gradually recovers, the government has decided to resume student loan payments. The official resumption date is set for [Insert Resumption Date], and borrowers must prepare for this change.

Preparing for Payments

  • Assess Your Financial Situation: Before payments resume, closely examine your finances. Consider your income, expenses, and any changes in your circumstances.
  • Update Your Contact Information: Ensure that your contact information with your loan servicer is up to date. 
  • Review Your Repayment Plan: Evaluate your current repayment plan. Explore other options such as income-driven repayment plans to make your payments more manageable.

Interest Rates

When student loan payments resume, the interest rates will no longer be at 0%. This means that you will start accruing interest on your loans again. Awareness of these rates and their impact on your overall loan balance is essential.

Loan Forgiveness Programs

If you’re enrolled in a loan forgiveness program, such as Public Service Loan Forgiveness (PSLF), the resumption of payments should not affect your progress. However, it’s still advisable to double-check with your loan servicer to ensure everything is in order.

Deferment and Forbearance Options

If you find yourself in a challenging financial situation and cannot afford to resume payments, deferment and forbearance options are available. These programs can temporarily halt or reduce your payments to a more manageable level. Read more…

The Impact on Credit Score

Timely student loan payments are crucial for maintaining a healthy credit score. As payments resume, it’s essential to prioritize them.


The student loan payments resume is a significant step towards returning to normalcy after the pandemic. It’s crucial to stay informed, assess your financial situation, and explore repayment options that work for you. By being proactive and responsible, you can navigate this transition successfully.


  • Can I continue making payments during the suspension period?
    • Yes, you can make voluntary payments even when payments are suspended. It’s a good way to reduce your loan balance.
  • What if I can’t afford to student loan payments resume on the set date?
    • Contact your loan servicer to discuss deferment or forbearance options if you can’t afford to resume payments.
  • Will the interest rate be the same as before the suspension?
    • No, the interest rates will return to their pre-suspension levels when payments resume.
  • Are there any changes to loan forgiveness programs due to the suspension?
    • Generally, loan forgiveness programs remain unaffected by the suspension, but staying updated with any changes is essential.
  • What happens if I default on my student loans after payments resume?
    • Defaulting on your student loans can have severe consequences, including damaged credit and wage garnishment. Communicating with your loan servicer is crucial if you’re facing financial difficulties.

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