Think of payment resumption as hitting the play button after a long pause. You've been on a break from student loan payments due to the CARES Act since 2020. But with a new bill that President Biden signed, that break's ending and we're back to making payments starting October 2023.

Mark your calendars! After August 30, 2023, we're back in business. Interest starts building up from September 1, 2023, and then we're off to making payments again in October 2023.

Yep, a little bit of homework. Your servicer needs to know how to reach you. So, make sure they have your up-to-date email, phone number, and mailing address. If you're scratching your head wondering who your servicer is, don't worry! You can use the Find My Servicer tool to get the details.

If there's a new player in town (your new servicer), you might need to send your payments to a new place. Keep sending your payments to your current servicer until the new one notifies you of the switch. You can use our Find My Servicer tool to check who your servicer is now.

The payment plan that you will be placed on will vary depending on whether or not you contact your servicer. If you do nothing, you will be placed onto the standard 10 year repayment plan - you can read more about that in our blog article: Which Repayment Plan Will you be Placed on Unless You Change It?

If your loans are in default, they aren’t eligible for income driven options. We recommend that you look into the Fresh Start program via the following FSA Fact Sheet.