Millions of Americans in the U.S. have thousands of dollars in student loan debt. When the pandemic began, a payment pause was put into place.
The payment pause first started in March of 2020 at the beginning of the pandemic.
Most recently it was extended until May 1, 2022.
More about the student loan payment pause
Until the payment pause ends, loans are not collecting interest and garnished wages are also paused.
Be sure to pay attention to your balance before the repayment begins.
People with defaulted loans have had enforcements against them temporarily suspended.
You’re protected from overdue payments until May.
There are loans not included in the pause:
- Federal Family Education Loans
- Private loans
You should refinance, find a lower rate, and continue to make your payments.
If you’re looking to get into a forgiveness program or income driven payment plan then you should continue to make payments.
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