Preparing for the End of the Student Loan Payment Pause.

The US Department of Education has announced that federal student loan payments will resume in October after a three-year pause due to COVID-19. Interest will begin accumulating on September 1, but payments won't be due right away. The Department of Education is expected to issue more concrete timing guidance in the next few months. If the Supreme Court rules in favor of President Biden's plan, Americans with federal student loans who make below a certain income will have between $10,000 and $20,000 of their debts canceled before payments restart.