Temporary student loan benefits ending this week – what borrowers should know

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Temporary student loan benefits ending this week – what borrowers should know
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When student loan payments resumed in October 2023, the U.S. Department of Education announced a temporary grace period that's ending this week.

A temporary benefit for student loan borrowers that relates to the pandemic pause ends on Monday, while another measure designed to help those with defaulted loans also ends this week. When student loan payments resumed in October 2023, the U.S. Department of Education announced a temporary "on-ramp" period through Sept. 30, 2024.

RELATED: 5 'unnecessary' bills to stop paying in 2024, according to expertsThe deadline for the temporary program to help those with defaulted loans, called Fresh Start, was also extended to Wednesday amid website issues.Under Secretary of Education James Kvaal announced on Monday that defaulted borrowers now have until 3 a.m. ET Oct. 2 to enroll. It had originally been set to end on Monday as well.

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