September 01, 2023 | Posted in:

How to Prepare for Student Loan Repayments to Resume

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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