When Do Student Loans Resume?

Young Americans are graduating from college with more student loans than ever before. However, one of the biggest benefits of being a student is that loan payments are often delayed if you have an especially low income. FlashApply Loans knows everything about these benefits. In this article, learn everything you need to know about when your loan payments resume as well as how they’ll be made.

Student Loan Basics

When student loans become due, you may have a few questions about when they start and how to repay them. Here’s a summary of when student loans typically resume payments. 

Most student loans stop being due on the day you graduate from college. However, certain federal loans, continue to accrue interest while you are in school and continue to be due after you graduate. If you are having trouble making your payments, speak with your lender or contact the Department of Education for more information about deferment or forbearance programs.

If you have a student loan default, the payments on that loan generally resume 60 days after the date of default (unless the school sends a delinquent notification). After that, the lender can begin collection proceedings or sue you in court.

What to Expect when your Loans Resume

When Do Student Loans Resume? You might think your student loans have stopped accumulating interest and are now manageable debt, but that’s not always the case. If you’ve been out of school for over six months, your student loans may have stopped accruing interest. However, the government may still be collecting on the balance of your loans. 

If you’ve been enrolled in school but haven’t made any payments on your student loans in over six months, your student loans will start to accrue interest again. It’s important to keep track of this so you can continue making payments on time. Otherwise, the government may begin taking collections actions such as garnishing your income or issuing a judgement against you. 

If you’re currently making payments on your student loans but have filed for bankruptcy, your student loans will likely remain an ongoing issue even after you’ve discharged them in court proceedings. Borrowers who have declared bankruptcy cannot stop collections actions from being taken against their student loans, although they may be able to negotiate a lower payment amount or have them forgiven altogether.

Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.