"Preparing for the Restart of Student Loan Payments: What You Need to Know"

The pandemic-era freeze on student loan payments will end soon, with payments starting in October and interest accruing from September 1. Delinquency and bankruptcy should be options of last resort, and deferment and forbearance are often better in the short term. Those who can't or don't pay risk delinquency and eventually default, which can badly hurt credit ratings and make borrowers ineligible for additional aid and government benefits. Borrowers who were in default before the pause have a chance to become current under the Biden administration's Fresh Start program.