The student loan payment pause could be extended again, but borrowers shouldn’t count on it. Instead, experts recommend they take these steps.
"I think that repayment will not restart on Sept. 1 — two months before an election," Kantrowitz said."Most likely, the student loan moratorium will be extended until sometime next year."
All that being said, no official announcement on an extension has been made. Most recently, the Education Department's Under Secretary, James Kvaal,Either way, Kantrowitz said, payments will eventually resume.Here are three steps borrowers might consider taking now.Borrowers should pretend that payments have already begun and direct their usual monthly student loan payment to a savings account, Kantrowitz said. Doing so will make the eventual resumption of payments a little less painful.
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