Congress recently passed a law preventing further extensions of the payment pause. Federal student loan interest will resume starting on Sept. 1, 2023, and payments will be due starting in October. You’ll get your billing statement or other notice at least 21 days before your payment is due. If you don’t get a billing statement at least 21 days before your payment due date, contact your loan servicer.
Tips and Tricks for Preparing to Resume Payment
Frequently Asked Questions
Federal Student Aid offers resources for borrowers as federal student loan repayment begins:
Borrowers in repayment on any BU-funded loan remit payment through Heartland ECSI. Borrowers with concerns about paying should contact Student Loan Accounting for options.
Private or Other Loans
Borrowers should contact their loan holder for questions about repayment or payment remediation
One-Time Student Loan Forgiveness Plan
The Supreme Court issued a decision blocking the Department of Education from moving forward with the one-time student debt relief plan. Visit StudentAid.gov/debtrelief to learn more about the actions President Biden announced following the decision and find out how this decision impacts student loan borrowers. The following information is no longer applicable as of June 30, 2023.
