If you have federal student loans, you’ve likely been closely following the news surrounding them for the past few years. Payments and interest on most federal student loans have been paused since March 2020 at the start of the COVID-19 pandemic. Additionally, the Biden-Harris administration proposed a one-time student loan debt cancellation plan in 2022, but recently that proposal was struck down. Following the passage of a debt ceiling bill in Congress last month, no further extensions of the interest and payment pause were allowed.