Are you ready? Federal student loan interest has resumed as of September 1, 2023, and payments will be due starting in October. Congress recently passed a law preventing any further extensions of COVID-19 emergency relief funds. Here are some ways to help you prepare for the transition:
• Make sure your contact information is up to date.
• Clarify your payment due date, amount and upcoming interest.
• Review your personal budget to determine how much you can afford to pay each month.
• Assess your repayment plan to find the best fit for your budget.
• Consider the pros and cons of consolidating your loans.
• Reach out to the experts at Alloy to better understand your options.
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