The federal student loan pause ends Sept. 1 — how you can get ready

The end of the federal student loan payment pause is within sight.

After a three-year moratorium, federal student loans will resume accruing interest on September 1, the Department of Education has confirmed. Payments will be due in October. Borrowers have had a rough timeline of when interest and payments would resume, but now there is a solid date. Most recently, another extension of the pause was prohibited by the, which also compelled the Biden administration to end the pause no later than August 30.

Prior to the bill, the end of the pause was contingent upon the Supreme Court's decision on whether President Joe Biden can forgive up to $20,000 in student debt per federal borrower earning less than $125,000 a year. The court's decision is expected any day now, but it's not clear what impact, if any, a ruling against the Biden administration would have on payments resuming.

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