Beginning Friday, Sept. 1, interest begins accruing again on student loan debt. Payments are to resume in October.
Missed payment forgiveness
If you can make an on-time payment, you absolutely should. But if you miss a bill or two, you won’t be penalized — at least not for the first year after repayment begins,. The Biden administration has provided a yearlong “on-ramp” to help ease borrowers back into the repayment routine. If you miss a monthly payment from Oct. 1 to Sept. 30, 2024, you won’t be considered delinquent. You also won’t be reported to the credit bureaus, placed in default or reported to debt collection agencies.
At least 30 days before your first payment, you’re to be informed of how much you will owe each month. Loan servicers for an estimated 44% of borrowers changed since March 2020 during the pandemic pause. Emails started going out in July identifying loan servicers. You can confirm your servicer at
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