Student loan interest to resume, inching closer to end of loan payment pause
Friday will mark the first significant step toward restarting the student loan process: borrowers will once again see interest accrue on their loan balances. It's a moment those with student loans have been dreading -- payments are one step closer to resuming. After a three-year pause on federal student loan payments, Friday will mark the first significant step toward restarting the process: borrowers will once again see interest accrue on their loan balances. The milestone comes one month ahead of the next major date for millions of American borrowers, Oct. 1, when payments will be due. MORE: Biden administration begins canceling student loan debt for 804,000 borrowers The two-step approach to restarting the student loan system is meant to give borrowers -- and servicers -- a slower on-ramp to dust off the cobwebs on a process that's long been stalled because of the pandemic. But the circumstances for restarting payment s are far from what the Biden administration intended. P...