Federal student loans will begin accruing interest in September 2023 for the first time in more than three years. Payments on federal student loans will begin in October 2023 for most borrowers. Log in to
studentaid.gov to update your contact information and find more details about your loans.
When is my first payment actually due?
Payments are due in October 2023. You will likely receive a bill in the mail from your servicer in September that outlines how much you owe and to whom. To learn more, visit
Prepare for Student Loan Payments to Restart.
How do I know who my servicer is?
You should receive an email or letter from your servicer by mid-September 2023. To ensure that you receive one, visit
studentaid.gov to verify that your contact information is up to date. Your servicer's information is also available on your Federal Student Aid profile.
What if I was behind on student loans before March 2020?
The Department of Education is offering a program called Fresh Start, which pulls your student loans back into current status and allows you to continue paying them. Fresh Start also restores eligibility to apply for new student loans and removes the default from your credit report. The process is relatively simple, and
can be completed by calling 800-621-3115. You will need to know last year's income, so check your W-2 or tax return before calling. For more information, visit
Get Out of Default With Fresh Start.
What is my loan balance? What is my monthly payment?
To find out your total loan balance and what your expected monthly payments will be starting in October 2023, log in to
studentaid.gov or to your loan servicer's portal. If you do not have internet access, or do not know who your loan servicer is, call the Federal Student Aid Center at 800-433-3243 for more information about your loan status.
What repayment options are available?
Several income-driven repayment (IDR) plans are available to borrowers with Direct Federal loans, Grad Plus loans, and consolidated Direct loans that did not repay any Parent Plus loans. FFEL, Parent Plus, and Direct consolidation loans that did repay a Parent Plus loan are not eligible for most of the IDR plans. The most affordable payment plan currently available is the SAVE plan. Extended repayment is another plan that is available to most borrowers. The standard repayment plan is usually the fastest way to repay student debt.
What forgiveness or cancellation opportunities are available?
There are forgiveness options available based on characteristics, including the school the borrower attended, whether the borrower has a disability and is unable to work, and what type of work the borrower does. Most of the available options for forgiveness require an application, which can be completed only by signing in to
studentaid.gov. There is no charge to apply for loan forgiveness or any repayment plan.
How do I know if a call or email is a scam?
Neither your servicer nor the U.S. Department of Education will reach out through text or phone call. All contact from the department as well as your servicer will arrive in writing – either email or post. If someone contacts you and requests personal information, hang up and
log in to studentaid.gov or call 800-433-3243.
What types of help are available to me?
In addition to studentaid.gov, the Consumer Financial Protection Bureau (CFPB) has trustworthy and thorough information on student loan repayment. Find advice for your student loans at
consumerfinance.gov. Complaints against servicers can be submitted through the CFPB's
Federal Student Aid, or directly through the
Division of Financial Regulation. For additional support regarding your specific loan situation, consider visiting a student loan counselor at a community based organization such as