The federal student loan payment pause and zero percent interest rate that had been in place since March 2023 ended Aug. 29.

Borrowers who are currently enrolled at least half-time in a degree program will remain in an in-school deferment (no payments required), but interest will begin accruing on Federal Direct Unsubsidized and PLUS loans, effective Sept. 1st.

Borrowers who are not enrolled half-time will enter/re-enter repayment with first payments due in October. Below are resources that can help with the transition to repayment:

• How to Prepare for Successful Student Loan Repayment
• Repaying Student Loans for the First Time
• Prepare for Student Loan Payments to Restart

Drake’s Financial Aid Office is available to assist with questions related to federal student loans. Contact us if we can be of service.

— Ryan Zantingh, Financial Aid