Student loan payments to resume from Oct 1

The almost three-year pause on student loan repayments ends today for roughly 28 million borrowers, who will start paying back their debts from tomorrow. People can find the due date from their loan servicer.

At the same time, 804,000 people will have a total of $39 billion of their loan amounts forgiven under a one-time adjustment approved by the Biden administration. They will be people in the income-driven repayment plan who have been paying off their student loans for 20 to 25 years.

With a potential government shutdown happening the same day as the student loan repayments resume, customer service may be hit. Nevertheless, borrowers have to make their payments.