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Reentering Repayment: What You Need to Know

Mark your calendars! After nearly two years of $0 payments and 0% interest, every borrower in America is currently going back into student loan repayment October 1st.

As far as we know, there are no plans for an extension of these COVID-19 benefits. President Biden has said that the eviction moratorium is ending, along with additional unemployment benefits. Previously, it was said that the pause on payments and interest would last as long as the pandemic, and it seems that legislatively, we have reached that point. If it does get extended, that is wonderful, but please do not count on it.

We do our best to keep everyone informed on relevant changes in legislation. If the pause in payments and interest do continue, we will be sure to let you know as soon as possible.

As mentioned above, every borrower is going back into repayment at one time. Given how the government and the servicers have a tendency to run, we would not be surprised if there was a hiccup in this procedure. Please monitor your email and other forms of correspondence to ensure that you have all the information needed.

In August/September, please go ahead and recertify your payment plan. If you have any confusion on which plan is right for you, feel free to reach out to set up an appointment. A lot can change in two years!


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