Interest on federal student loans has started accumulating again after a three-year pause due to the COVID-19 pandemic. Students have at least another month before they need to start repaying their loans. The first step is to log in to their StudentAid.gov account and check who their loan servicer is. They can then access their loan balance, monthly payment amount, and interest rate. Borrowers who are struggling to make payments have options including a 12-month grace period announced by President Joe Biden and income-driven repayment plans. It is important to be vigilant about scams and never pay for assistance with loans or share login information.
Source: theGrio [ Read More ]