March 29, 2024

At the beginning of the pandemic, federal student loan repayments were paused to address the financial hardships many Americans were faced with. Since the economy is recovering, the Biden administration is not extending student loan relief any further and borrowers will have to start making payments again after January 31.

Student loan advisors suggest borrowers prepare themselves for repayment ahead of time. Here are some steps you can take to make sure you’re ready.

Make sure your contact information is correct.

Loan servicers will be sending out information and notifications to prepare borrowers for repayment, so check your contact information and update it if necessary to ensure you don’t miss anything.

You can find your loan servicer and update your contact information at

Open your mail.

Loan servicers may send notifications electronically or through the post, so it’s important to get into the habit of opening all of your mail.

Evaluate your payment plan.

You can find your current balance and payment amount at If the payment amount is not manageable for you, now is a good time to submit the paperwork to switch to a different payment plan.

Information about different repayment plans can also be found at The Federal Student Aid Office of the Department of Education suggests using their loan simulator, which can show you what repayment plans might be best for you based on your…

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