The COVID-19 payment pause is ending on September 1st. In October, borrowers must resume payments for the first time in more than three years.
Here are steps you can take to prepare:
- Check your loan information by logging into studentaid.gov. Your loans may have been transferred to a new loan servicer during the pandemic. Studentaid.gov is where you can find out your current loan servicer and get an update on your student loan situation.
- Update your contact information on studentaid.gov as well as on your current loan servicer’s website.
- See if you are eligible to have any of your loans forgiven by going to StudentAid.gov/forgiveness
- Find out what your monthly payments will be and consider your payment plan options. Go to studentaid.gov/loan-simulator/ to select the repayment option that meets your needs and goals.
*Make sure you read about the new repayment option called the SAVE plan: https://studentaid.gov/announcements-events/save-plan - Make a plan for how you’ll make payments. If you were enrolled in auto-pay before the pandemic, you will likely need to re-enroll.
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Need more help? MLSA assists Montanans with civil legal issues. To apply, contact Montana Legal Services Association (MLSA) at 1-800-666-6899 or apply online at https://www.mtlsa.org/