Interest on federal student loans has started accumulating again after a three-year pause because of the COVID-19 pandemic. The first step is to log in to your StudentAid.gov account and check who your loan servicer is. Many loan servicers changed during the pandemic, so you might have a different one than you did back in March 2020.
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Since March 13, 2020, federal student loan borrowers have enjoyed 0% interest rates and paused payments. But this Friday, interest will begin accruing again ahead of payments that restart in October..
After a hiatus of more than three years from federal student loan payments, the pandemic-related relief ends Sept. 1, when loans begin accruing interest again. Monthly payments will be due starting in.