Currently, the payment pause is scheduled to end on August 31, 2022
IonTuition is closely monitoring notifications from the Education Department and reputable media outlets regarding the current payment pause for federal student loans.
The payment pause includes a suspension of loan payments, a 0% interest rate, and stopped collections on defaulted loans.
Here are four steps to prepare for when student loan repayment resumes.
- Update your contact information in your profile on your loan servicer’s website and in your StudentAid.gov profile.
- Review or sign up for auto-debit enrollment by logging in to your loan servicer’s website or contacting your loan servicer directly.
- Explore repayment options at studentaid.gov/loan-simulator to find a repayment plan that meets your needs and goals
- Consider applying for an income-driven repayment (IDR) plan. An IDR plan may make your payment more affordable depending on your income and family size.
Contact your IonTuition concierge advisor today if you have questions about your servicer or your repayment plan.