Resuming Your Student Loan Payment
Student Loans and the CARES Act
Having a holiday from your student loan payment is sweet, but how we got to that point has been traumatic. It’s difficult to weed through all the news to figure out what is happening on one specific subject. One of the questions we are hearing from borrowers is: How will I know when to resume making payments?
Here’s the answer:
Administrative forbearance and the 0% interest period on federal student loans are currently set to expire on 9/30/2020.
Beginning in August 2020 your loan servicer will contact you to remind you that payments are restarting and notify you of your next payment due date. Servicers are required to make six contact attempts. Make sure your contact information is up to date in your loan servicer account profile.