Federal student loan repayment and interest have been on hold since early 2020. While borrowers could choose to make payments and take advantage of the no-interest environment, the vast majority of federal student loan borrowers haven't paid a dime toward their loans in more than three years.

The repayment pause was never meant to last this long and had been set to expire once President Biden's student loan forgiveness plan made its way through the Supreme Court. However, as student loan payments had been set to restart, only to be postponed several times already, there was no reason to think it couldn't happen again.

The recent debt ceiling deal could change things. Specifically, the proposal includes a provision that would terminate the student loan repayment pause after Aug. 30, 2023, regardless of what happens with loan forgiveness or anything else.

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Source Fool.com