Federal student loan payments have been on a three-year pause due to the COVID-19 pandemic, but that will soon be a thing of the past.

Starting in October, federal student loan payments will resume, according to the Federal Student Aid website run by the U.S. Department of Education.

Here’s what you need to know if you are a borrower that has a payment due.

According to the Education Department, borrowers will get their bills with a payment amount and due date at least 21 days before they are due in October 2023. Many of which begin this week, the last full week of October.

If you can’t make a payment right away when bills start becoming due in October, you have several options.

First, you can consider applying for an income-driven repayment plan such as the SAVE plan, which gives you a monthly payment amount calculated based on factors such as your income and family size.

If you still can’t make your payments, the Education Department created a temporary on-ramp period that will last until Sept. 20, 2024, that will prevent penalties such as negative credit reporting for missed, late or partial payments.

It is important to note that only loans eligible for the payment pause qualify for the on-ramp period, but if you qualify for the payment pause, you are automatically eligible for the on-ramp period and no further action is needed.

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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.