A First Look at Student Loan Repayment After the Payment Pause

Dec 15, 2023 · By: U.S. Undersecretary of Education James Kvaal After more than three years, in June 2023, Congress ended the student loan payment pause, which suspended payments and interest for the duration of the pandemic. This fall, more than 28 million borrowers are …

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How The Student Loan Payment Pause Affected Borrowers’ Credit …

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2 days ago · The effects of this policy change were nontrivial. For each of the 17 million student loan borrowers in active repayment, the pause freed up $280 a month, 2 on average, or about …

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FAQs about A First Look at Student Loan Repayment After the Payment Pause Coupon?

When did the student loan pause end?

By: U.S. Undersecretary of Education James Kvaal After more than three years, in June 2023, Congress ended the student loan payment pause, which suspended payments and interest for the duration of the pandemic. ...

When does student loan repayment resume?

Student loan repayment will resume for millions of borrowers in May 2022, after the payment pause and interest freeze end. Last month, President Biden extended these measures to May 1, 2022. ...

What should I do if my student loan pause ends?

When the student loan payment pause ends, borrowers should update their contact information with their loan servicer including their phone number, mailing address, and email address to ensure that they receive important correspondence. The Biden administration is finalizing details about what repayment will look like for borrowers. ...

Are borrowers preparing for a repayment pause?

Despite the U.S. Department of Education announcing earlier this year that the payment pause, which had been extended multiple times, was coming to an end, experts say they fear some borrowers did not adequately prepare for repayment. That's particularly true for those who were counting on loan forgiveness. ...

Will the student loan pause be extended again?

68% of respondents thought the pause would be extended again. Americans prepare to resume student loan payments after a pause of nearly two years. ...

Are student loan payment pauses necessary?

While student loan payment pauses were certainly a welcome relief for many, they weren’t a requirement, and not everyone chose to delay repayment. The first part of our study looks at how student loan debtors approached the option and what reasoning drove their respective behaviors. ...