In March 2020, federal student loan repayment was suspended due to the COVID-19 pandemic. This suspension stayed in place until the end of the national emergency a few years later and loan repayment resumed in October 2023. We hope the information on this page is helpful in navigating the restart of the student loan repayment process.
Your FSA ID will include a username and password. Once logged in, take care to update your personal information and confirm your student loan servicer. Log in to StudentAid.gov.
Your servicer can vary depending on the type of federal loan you have. It is important to learn who your servicer is so you can contact them to get repayment started. If you do not know who your servicer is, log on StudentAid.gov and visit the My Loan Servicers section of your dashboard.
Create an account or log in through the loan servicer’s website. Make sure that your contact information is up-to-date so that your servicer can contact you with pertinent information.
If you were signed up for automatic payments before the repayment pause began, it will not automatically restart. You must reauthorize for automatic payment to restart.
Make note of the total of your monthly payment amount and the date your first payment will be due. Make sure that your bank information is up-to-date as it may have changed since the beginning of the pandemic.
The contact information your servicer has may need to be updated. It is important that your servicer has accurate contact information so they can contact you when they have important updates. You should also review your outstanding loan balances and interest.
When you completed loan exit counseling, you selected a plan to repay your student loans. If you did not select a repayment plan, you were automatically placed in the standard repayment plan. If the plan you were in before the pandemic no longer aligns with your repayment strategy, you may want to look at your options and consider switching.
The standard repayment plan is based on the amount you borrowed. It divides your balance into equal, fixed monthly payments. Others, known as income-driven repayment (IDR) plans, take your income into account. If you do not recall which plan you are in, you can find it on StudentAid.gov or on your loan servicer’s portal. Your loan servicer may also have repayment calculator tools that you can use to assist in figuring out which plan best aligns with your repayment strategy.
If you decide to change your repayment plan to a non-IDR plan, log on to your loan servicer’s website and make the change. Enrollment in an IDR plan requires an application on StudentAid.gov. Please keep in mind that additional personal information may be required if you are applying for an IDR plan, such as income and family size. If you need assistance with selecting a plan, contact your loan servicer.
Do not delay being proactive if you anticipate encountering any troubles as repayment begins. There can be consequences to not being prepared for this process.
Review your personal budget so that you understand how to prepare for this new monthly expense. You can find resources to help you create, manage, and maintain your budget on StudentAid.gov.
With millions of borrowers transitioning to repayment at the same time, it is possible for loan servicers to become overwhelmed with a high volume of inquiries. It is possible that you have difficulties getting in contact with them on your first outreach, whether that is a phone call or electronic communication. Make your best effort to first search your loan servicer’s website for the answer to your question(s) before you reach out for assistance – it may help you faster.
Keep good documentation of your financial aid and loan servicer records. Having the ability to reference them in the future can help mitigate confusion over where you stand in the repayment process and where you are headed.
