The end of the federal student loan payment pause is within sight.
After a three-year moratorium, federal student loans will resume accruing interest on September 1, the Department of Education has confirmed. Payments will be due in October.
Borrowers have had a rough timeline of when interest and payments would resume, but now there is a solid date. Most recently, another extension of the pause was prohibited by the debt ceiling bill, which also compelled the Biden administration to end the pause no later than August 30.
Prior to the bill, the end of the pause was contingent upon the Supreme Court’s decision on whether President Joe Biden can forgive up to $20,000 in student debt per federal borrower earning less than $125,000 a year…
Read the full article at: https://www.cnbc.com/2023/06/13/student-loan-pause-ends-september.html