Student Loan Repayments Have Restarted (New Jersey Citizen Action)

Earlier this summer the Supreme Court had denied President Biden the option to cancel $10K - $20K of federal student loan debt. As a result, the COVID-19 student loan payment pause ended on August 31, 2023. Student loan interest will have resumed starting 9/1/23 and payments will be due starting in October. 

Fortunately, the White House just released the SAVE plan, an affordable plan to lower monthly payment for millions of borrowers.

Borrowers should go to StudentAid.gov/save to learn more and get started on their application. Read more about the SAVE plan in this fact sheet.

Borrowers will start receiving bills in September and payments will be due in October 2023. Please feel free to share the Borrower Checklist and/or the summary below:

o Set up your account on StudentAid.gov

o Review loan forgiveness options—if you have FFEL program loans, consolidate.

o Update your contact information with your student loan servicer (Loan Servicer Contact Information)

o Enroll in SAVE plan (verbal enrollment available for 6 months)

o Enroll in auto-pay


Here are additional links for borrowers:For borrowers who were in repayment before and are going to resume payments
For borrowers who haven’t made a payment before
For information about the new income-driven repayment plan
Register & save the date for the U.S. Department of Education's Repayment 101: Get Help with Your Federal Student Loans Webinar

Don't delay, get ahead of your student loan repayment!


Beverly Brown Ruggia, Financial Justice Program Director, New Jersey Citizen Action