Student Loan Repayment Begins October 1
Published October 02, 2023
By AACOM Government Relations
Advocacy Federal Policy Financial Aid OME Advocate
- On October 1, 2023, borrowers must begin repaying their federal student loans, with interest, after a more than three-year payment and interest pause due to the COVID-19 pandemic.
- More than 44 million borrowers benefited from the pause, and for the next 12 months, the Administration is providing a grace period during which missed payments will not be reported to credit agencies or lead to delinquent or default status. However, missed payments could impact credit toward Public Service Loan Forgiveness and interest will still accrue.
- To prepare for repayment, borrowers are encouraged to visit https://studentaid.gov/.