When do student loan payments resume? is a question on the minds of many borrowers after the Biden administration announced a pause on federal student loan payments due to the COVID-19 pandemic. The pause has been extended several times, and the latest extension is set to expire on May 1, 2023. After this date, student loan payments will resume.
The resumption of student loan payments is an important event for borrowers, as it will affect their monthly budget and overall financial picture. Borrowers should begin preparing for the resumption of payments by reviewing their loan statements, understanding their repayment options, and considering consolidating or refinancing their loans if it makes financial sense.