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Three tips as you start paying your student loans again

After being paused during the pandemic, payments on federal student loans resume in October.

MINNEAPOLIS — Like it or not, it's time to get reacquainted with your federal student loans. 

Payments have been paused since March 2020 due to the pandemic, but they're set to resume in October

Here are three things to know if you need to start repaying your loans.

1. Double check your email and phone number

To log into the federal student aid website, you need your FSA ID, email or phone number. But it must be the email and phone number associated with your student aid account. The Department of Education says users often find it's an old email associated with their account, like one from a past school or even their parents' email address.

2. Check out income-driven repayment plans

They can lower your monthly payment, depending on your discretionary income. You've likely been hearing a lot about the Biden administration's new plan called SAVE, but their are other plans available, too. 

If you call your loan servicer, they can help you get on the best plan for you - whether it's one with the lowest monthly payment or one that saves you the most on interest.

3. Enroll in autopay

Why? Because if you do, your servicers will shave .25% off your interest every month. If you have a big balance, that can add up. You can sign up on your servicer's website. 

RELATED: Student loan SAVE plan: VERIFY Fact Sheet

RELATED: No, Congress is not considering a law that would ban credit card rewards

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