@millennialindebt
Millennial In DebtIf you have direct loans those are “daily interest” loans and will accrue interest every day. Payments resume on October 1st and you can expect a bill at least 21 days before your payment’s due date (so in the next week or so) If you had auto-debit before they won’t automatically restart for most borrowers so you’ll have to opt in to confirm enrollment before payments start. Borrowers with direct loans who enroll in automatic debt payments get a 0.25% interest rate deduction Your loan provider will automatically place you on a Standard Repayment plan so be sure to request a different plan that better fits your needs I’ve been chatting with my future millionaire newsletter about the SAVE plan for a few weeks — that is an option. If you can not make payments right now you can temporarily stop your payments with deferment or forbearance. Interest will still accumulate on outstanding balances. #studentloans
On the profile · Sep 2, 2023