End to the On Ramp to Repayment: Sept. 30 Deadline Approaching

The Department of Education created an On Ramp to Repayment to provide an additional grace period for borrowers who may have been unable to begin repaying their loans immediately.

This period of protection ends on September 30, 2024. After this date, the rules from pre-COVID-19 forbearance will take effect:

• Student loans can fall into delinquency or default
• Missed payments can be reported to credit bureaus
• Credit scores can drop as a result of missed payments
• Missed payments can be reported to debt collection agencies

Before the on-ramp period ends, we want to ensure you’re making the lowest monthly payment possible to maximize your forgiveness! Through Columbia University and TIAA, you have access to a free student loan benefit, Savi, whose mission is to get you on track with your student loan payments, assess your eligibility for forgiveness and repayment programs, and make sure you’re prepared as the on-ramp ends.

You can use Savi’s personalized repayment calculator to understand your options to lower your monthly payments.

You can also join an upcoming Savi workshop that takes place every two weeks.