The moratorium on federal student loans is set to expire on September 30th of this year, but there is a glimmer of hope that it may be extended. For how much longer? We have no idea. However, it sounds like, at a minimum, there will be a “ramp-up” plan in place that helps borrowers ease back into their payment while simultaneously helping lenders get operationally organized.

For now, federal student loan borrowers that have remained financially stable should plan on making room in their budget again to start payments in October. If income has materially changed, it may be time to consider refinancing (see this related article by Student Loan Hero) or an income-driven repayment plan. Even if you’re already on an income-drive repayment plan, you can request that it be reassessed ahead of your next recertification date due to a variety of circumstances that may have happened due to the pandemic or regardless.