- Student loan repayments begin again Sunday, on Oct. 1, 2023 after the being suspended during the pandemic.
- However, President Biden has made changes to the program to try to make repayment easier on borrowers.
- For example, the administration reduced how fast interest can accumulate on loans and gave borrowers a one-year “on-ramp” period in which late payments won’t be reported to credit bureaus and delinquent loans won’t be put into default or collections.
Trending
Student Loan Payments Resume
Activists gather to rally in support of cancelling student debt, in front of the White House in Washington, DC, on August 25, 2022. - Biden announced on August 24, 2022, that most US university graduates still trying to pay off student loans will get $10,000 of relief to address a decades-old headache of massive educational debt across the country. (Photo by Stefani Reynolds / AFP) (Photo by STEFANI REYNOLDS/AFP via Getty Images)
