Can't Start Paying Your Student Loans Again in October? Here's What You Need to Know
After about 3.5 years, the federal student loan repayment and interest pause is coming to an end. Interest is set to start accumulating on Sept. 1, and most federal student loan borrowers will have their first payment since 2020 due in October.
With an average student loan payment of nearly $400 per month, according to the Federal Reserve Bank of New York, it's fair to say that the resumption of student loan repayment will be a major financial burden on many U.S. households.
If you anticipate having trouble when your student loan payments are due, the Biden Administration has created a way to make it much easier -- at least for a while.
Source Fool.com
