What to know before student loan payments resume on the 1st

 

Millions of Americans are gearing up to restart payments on student loans.

It's been 3 years since borrowers have had to make a payment, and a lot of people might be confused as to what happens on the 1st.

Almost 1 million Hoosiers carry college debt, averaging around $32,000 per person.

For lots of people, October's payment will be the first one they make towards their student debt.

Others maybe just haven't made a payment in the last 3 years.

Millions of loans have also been turned over to new servicers in the last few years in the last few years, adding to the confusion as people aren't even sure who's handling their loans.

Once you figure out your servicer, they're a good place to start when it comes to getting a payment plan in place.

You can also use INvestED, a non-profit offering free, expert advice to Hoosiers on how to pay for higher education for more than 40 years now.

More information about student loan repayment can be found at the U.S. Department of Education's website.