Student LoansPayments for most federal student loan borrowers have been paused since March 2020, though borrowers have had the option to continue making payments. The pressure for an extension only increased when one of the government’s largest loan servicers said it wouldn’t renew its contract when it ended later this year. Accounts will have to be moved to a new servicer just as the giant task of restarting payments is getting underway. Make sure your contact information is updated on your loan servicer’s website, as well as in your StudentAid.gov profile. It could save you a lot of headaches by ensuring that you’re properly notified about restarting payments.

Source: New York Times July 18, 2021 09:00 UTC