After 42 months of pause, student loan payments resumed, but a one-year on-ramp protected borrowers from penalties for missed payments, which now come to an end.
The Biden administration's yearlong on-ramp allowed borrowers to ease back into payments without negatively impacting their credit scores, but this protection ended on September 30.
Borrowers can breathe a little easier knowing that while payments are mandatory again, a missed payment isn't reported until 90 days of nonpayment.
Many borrowers remain confused about their payment status, especially those enrolled in the SAVE program, which is currently on hold due to legal challenges.
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