Interest on Federal Student Loans Resumes After a Three-Year Pause

Interest on federal student loans has begun accumulating again after a three-year pause caused by the COVID-19 pandemic. Borrowers have at least another month before they need to start repaying their loans. It is recommended that borrowers log into their StudentAid.gov account to check their loan servicer, update personal information, and access loan balance, monthly payment amount, and interest rate. Options for managing payments include making use of the 12-month grace period, exploring income-driven repayment plans, and considering the new SAVE plan. Borrowers should be cautious of scams and safeguard their login information.