Student loan payments are resuming after a pause, and you need to know when yours restart and what to expect

Federal student loan payments have been paused for an extended period, but that pause has ended. Your loans are now in repayment, which means monthly payments are due again. The exact restart date depends on your loan type and your servicer, but most borrowers saw payments resume in late 2023. If you have not made a payment in months or years, this section explains what happens next and how to prepare.

Your servicer — the company that collects your payments — will contact you before payments restart. You should receive notices by mail and email with your new payment amount, due date, and payment options. If you have not heard from your servicer, log into your account at studentaid.gov to find your servicer's contact information and check your loan status.

Key Takeaways

  • Federal student loan payments restarted in October 2023 after a pause that began in March 2020, and you are responsible for making payments on schedule even if you have not received a notice.
  • Your payment amount is based on your loan balance, interest rate, and repayment plan, and it may be different from what you paid before the pause.
  • You can change your repayment plan, request a temporary pause through deferment or forbearance, or set up automatic payments to avoid missing a due date.
  • Missing payments will damage your credit score and may trigger collection action, so contact your servicer when ready if you cannot pay.

Finding your servicer and your payment details

Your servicer is the company that manages your loans day-to-day. It is not the lender that originally gave you the money — it is the company you send payments to. You can find your servicer's name and contact information by logging into studentaid.gov with your FSA ID (Federal Student Aid ID). Once you log in, you will see all your federal loans listed, along with the name of the servicer managing each one.

Write down your servicer's phone number and website. Call them or log into your servicer's website to confirm your current payment amount, due date, and the repayment plan you are on. Your servicer will also tell you whether you have any loans in a special status — for example, some loans may still be paused if you work in public service or have a total and permanent disability. Do not assume all your loans restarted on the same date.

Understanding your repayment plan options

A repayment plan is a schedule that determines how much you pay each month and how long you have to pay back your loans. The most common plan is the Standard Repayment Plan, which spreads payments over 10 years. But you have other options, and your plan may have changed during the pause.

Income-driven repayment plans — such as SAVE, PAYE, IBR, and ICR — calculate your payment based on your current income and family size rather than your loan balance. These plans typically result in lower monthly payments, especially if your income is low. The tradeoff is that you pay interest for longer, and any balance remaining after 20 or 25 years may be forgiven (though you may owe taxes on the forgiven amount). If your income has dropped or you have dependents, an income-driven plan may lower your payment significantly. You can change your plan at any time by contacting your servicer or through studentaid.gov.

What to do if you cannot afford your payment

If your payment amount is too high, do not skip it. Contact your servicer before your first payment is due and explain your situation. You have several options that do not involve missing a payment.

The fastest option is to switch to an income-driven repayment plan, which can lower your payment to as little as $0 per month if your income is very low. You can request this change online through studentaid.gov or by calling your servicer. The change usually takes effect within a few weeks.

If you need more time, you can request deferment or forbearance, which temporarily pause your payments. Deferment is available if you are unemployed, in school, or in certain other situations; forbearance is available if you are experiencing financial hardship. During forbearance, interest still accrues on unsubsidized loans, so you will owe more when payments restart. Both options are temporary — typically six months to three years — and you must request them before you miss a payment.

Setting up automatic payments and avoiding missed payments

The easiest way to stay on track is to set up automatic payments, also called autopay. Your servicer will deduct your payment from your bank account on the due date each month. You will not have to remember to pay, and you will avoid late fees and credit damage. Most servicers offer a small interest rate reduction — usually 0.25% — if you enroll in autopay.

To set up autopay, log into your servicer's website or call them directly. You will need to provide your bank account number and routing number. The first payment will usually be deducted within one or two billing cycles. If you change banks, update your account information with your servicer so payments do not bounce.

If you miss a payment, your servicer will contact you. A payment is considered late if it arrives more than 15 days after the due date. Late payments damage your credit score and may trigger collection calls. If you miss a payment, contact your servicer when ready — many will work with you to catch up or adjust your plan rather than send your loan to collections.

How the payment pause affected your loans

During the pause, no payments were required and interest did not accrue on federal loans. This means your loan balance stayed the same even though time passed. Now that payments have restarted, interest is accruing again, and your monthly payment will include both principal (the amount you borrowed) and interest (the cost of borrowing).

If you made voluntary payments during the pause, those payments reduced your balance. If you did not make payments, your balance is the same as it was when the pause began. Either way, your new payment amount is based on your current balance and your repayment plan.

Some borrowers received loan forgiveness during the pause — for example, through the Public Service Loan Forgiveness program or because of a total and permanent disability. If you received forgiveness, your remaining loans will restart on the normal schedule, but your balance will be lower.

Tracking your progress and staying organized

Create a straightforward record of your loan information: your servicer's name and phone number, your loan balance, your monthly payment amount, and your due date. Update this record whenever your plan or payment amount changes. Many borrowers keep this information in a note on their phone or a spreadsheet.

Log into studentaid.gov once a month to check your loan balance and payment history. You should see each payment posted within a few days of the due date. If a payment does not appear after a week, contact your servicer to confirm it was received.

If you are working toward Public Service Loan Forgiveness or another forgiveness program, keep records of your employment and payments. These programs have strict requirements, and missing documentation can delay or deny forgiveness.

Frequently Asked Questions

What happens if I do not make a payment when it is due?

Your loan enters a delinquent status, and your credit score drops. After 90 days of missed payments, the loan may be reported to credit bureaus. After 270 days (about nine months), the loan may be sent to a collection agency. Contact your servicer as soon as you know you cannot pay — they can often work out a solution before serious damage occurs.

Can I pause my payments again after they restart?

Yes, through deferment or forbearance, but you must request it before you miss a payment. Deferment is available if you are unemployed, in school, or in certain other situations. Forbearance is available if you are experiencing financial hardship. Both are temporary and must be renewed when they expire.

Will my payment amount stay the same every month?

On a Standard Repayment Plan, yes — your payment is fixed for the entire 10-year term. On an income-driven plan, your payment recalculates each year based on your updated income and family size, so it may go up or down. You must recertify your income each year to stay on an income-driven plan.

What if I have both federal and private student loans?

Federal and private loans are managed separately. Federal loans restarted in October 2023. Private loans never paused — you have been making payments on them all along. Contact each servicer separately to confirm your payment status and amount.

Can I pay off my loans early without a penalty?

Yes. Federal student loans have no prepayment penalty, so you can pay extra toward your balance at any time. Any extra payment goes toward principal and reduces the total interest you pay. Contact your servicer to confirm how to make an extra payment.