What you need to know as student loan repayments resume this month.

Federal student loan borrowers will be required to pay their monthly student loan bills starting in October.

The pandemic-related pause from 2020, was providing relief to nearly 44 million borrowers by freezing their accounts.

After several extensions by both the Trump and Biden administrations, the pause expired after Congress prohibited the president from extending it another time.

Restarting payments all at once for so many borrowers will be an unprecedented task. Here’s what borrowers need to know:

When do payments restart?

For most borrowers, the first payment will be due in October – but not everyone has the exact same due date. Borrowers can expect to receive their bill, listing their payment amount and due date, at least 21 days beforehand.

When did interest resume?

Interest accrued again on September 1, after rates were initially set to 0% for federal student loans. Now, interest rates, which vary by loan, have returned to the same rate they were before the freeze.

My payments were automatic before the pause. Will that continue?

Even if a borrower enrolled in automatic payments before the pandemic payment pause, they will likely need to reenroll by logging in to their servicer’s website.

Auto pay is optional, but borrowers will save 0.25% on their interest rate if they choose to enroll.

What happens if I don’t pay my student loan bill?

Because interest restarted accruing on September 1, not making a payment will result in borrowers owing more on their student loans over time.

But through September 30, 2024, the government is providing an “on-ramp period,” during which borrowers are shielded from other normal consequences of missing a payment. A loan servicer won’t, for example, report the loan as being in default to the national credit rating agencies.

Borrowers don’t need to apply for this benefit.

My student loans are already in default. What can I do?

Borrowers who fell into default before the pandemic pause started in March 2020 can apply for the Department of Education’s “Fresh Start” program.

What happened to Biden’s student loan forgiveness program?

In June, the Supreme Court struck down President Joe Biden’s student loan forgiveness program, blocking millions from receiving up to $20,000 in federal student debt relief.

That means payments will resume without this particular student loan forgiveness in place.

The Biden administration is currently pursuing another pathway for debt relief.

However,  it’s not clear who would be eligible or how much debt would be canceled. This pathway requires the Department of Education to undertake a formal rule-making process, which typically takes months or even years – and could still face legal challenges.

Are there other ways to get student loan forgiveness?

The Biden administration has made it easier for many borrowers to seek federal student loan forgiveness from several existing debt cancellation programs.

Altogether  they approved roughly $117 billion in loan discharges for more than 3.4 million people through early September.

This summer, the Biden administration announced it was canceling $39 billion worth of federal student loan debt for 804,000 borrowers.

This comes after carrying out a one-time adjustment to some borrowers’ accounts. The recount is aimed at accurately counting certain payments made under a previously income-driven repayment plan.

The administration has made it easier to qualify for the Public Service Loan Forgiveness program.

For example, the program cancels remaining debt after a public sector worker makes 10 years worth of qualifying monthly payments.