Way back in 2020, Federal Student Loan payments were suspended thanks to the impacts of that thing we don’t talk about anymore. 

(Okay, it was just in August, but time flows differently these days.)

Extensions were put onto it in December, January, and most recently, last month.

What this means for you is that if you currently owe anything on a Federal Student Loan and have been taking advantage of the freeze, you will be back on the hook for it on January 31st, 2022. 

In preparation for this, your loan servicer will call or email you to tell you all of the specifics of when and how to make your payments again. 

If you don’t know who your loan servicer is, you can always contact the Federal Student Aid Information Center (FSAIC) at 800-433-3243 or visit the National Student Loan Database System (NSLDS).

That said, if you’re on the list and are soon to be taking on your old loan payments, you may need some help figuring out how to fit it all back into your budget. Fortunately, that’s our thing.

Give us a call at 513-563-PLAN (7526) or book online to set up a 15-minute chat to discuss it. If you know of anyone still paying off student loans that may need help with planning out how to pay them off, don’t hesitate to forward this information along to them. 

Regards,
Nikki Earley, CFP®