Over the three-year-long pause on student loan payments, the U.S. Department of Education has repeatedly told borrowers their bills were set to resume, only to take it back and provide them more time.
It’s official: Student loan payments will restart in October, Education Department says
Tag: Student Borrower Protection Center
President Biden extends student loan payment freeze through May 1
President Biden extends student loan payment freeze through May 1
Whenever loan payments resume, many experts say the process will be quite messy, given so many back and forths with borrowers. Even a 2020 report from the Education Department noted the resumption of payments would be messy. Loan servicers and the federal government, the report says, will “face a heavy burden in ‘converting’ millions of borrowers to active repayment.” The transition could also be confusing to borrowers, with some “becoming delinquent, at least initially.”