Fri. Jan 21st, 2022

The end of the payment pause means borrowers with outstanding federal student loans will start repaying loans again in May 2022. Not only will payments start back up, but so will interest charges and collections on defaulted loans.

Several useful resources exist to help borrowers as they transition back into making monthly loan payments. Whether you’re trying to determine where or how to send loan payments or the best student loan repayment strategy, the following resources will help guide you through the payment restart.

Disclaimer: President Biden announced on December 22, 2021, that his administration would be extending the student loan pause again until May 1, 2022. He had previously said the ‘final’ extension of the student loan payment and interest pause would end on January 31, 2022.

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Legal: Student Loan Planner is a financial coaching company and does not claim to provide financial advice on investment products. Refinancing federal loans causes the borrower to lose access to income-based repayment plans as well as the PSLF program. We may earn compensation from advertising partners when you click on links on our site. Student Loan Planner is not a debt settlement or debt relief company. We do not provide tax or legal advice.

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By Daryl