13. How to Prepare for Student Loan Payments to Begin October 2023
Episode description
The Federal student loan payment pause, which started March 13, 2020 in response to the COVID-19 pandemic, ends August 31, 2023.
The pause suspended Federal student loan payments and interest accrual on those loans. While forbearance of payments will continue through September 2023, with payments due beginning October 2023, interest will begin accruing on Federal student loans on September 1.
You can choose to begin making payments before October 2023, if you would like to.
Your student loan servicer is required to notify you of your payment amount and payment due date at least 21 days before it is due.
Instead of waiting to see what happens and for your student loans servicer to tell you when your payment is due and how much you owe each month, here are 7 things you should do now to prepare for student loan payments to restart in October 2023.
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