Loans Student Loans

4 Dates Student Loan Borrowers Should Add to Their 2024 Calendar

Here are some key dates borrowers should add to their calendars.

By Laura Gesualdi-Gilmore

Edited by Chris Kissell

Updated April 10, 2025

The federal pause on student loan repayment ended last October, jolting many of the more than 45 million Americans who carry student loan debt.

Now that payments have resumed, it is especially important to stay on top of your student loans if you hope to get ahead financially.

Here are five important dates borrowers should be aware of in 2024.

If you’re over 50, take advantage of massive discounts and financial resources

Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.

How to become a member today:

Go here, select your free gift, and click “Join Today”
Create your account (important!) by answering a few simple questions
Start enjoying your discounts and perks!

Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $15 the first year with auto-renewal.

Become an AARP member now

May 2024

Shortly after President Biden's proposed student loan forgiveness plan was shot down last summer, the administration announced it would continue to take steps to help borrowers.

Forbes estimates that the administration will release a final draft of a new loan-forgiveness plan sometime in May, with regulations possibly going into effect later in the year.

In the meantime, the Public Service Loan Forgiveness program began a partial processing pause on May 1, which will likely run through July.

Who really has the cheapest auto insurance in your area? Check your zip code here.

July 2024

Additional benefits of the Biden administration's Saving on a Valuable Education (SAVE) Plan will go into effect in July. Although the plan was announced in the summer of 2023, the benefits have rolled out gradually.

In summer 2024, undergraduate loan payments will be slashed by half — from 10% to 5% of income above 225% of the poverty line.

In addition, borrowers who took out $12,000 or less in loans might qualify for forgiveness in as little as 10 years.

September 30

To help borrowers avoid serious financial consequences, the government created an "on-ramp" period after the pause on student loan payments ended in 2023.

Through Sept. 30, 2024, the government will not report borrowers as delinquent due to missed, late, or partial payments. However, interest is still accruing during this period, and the grace period itself will end in September.

If you have missed payments since the payment pause ended, consider contacting your loan servicer to develop a repayment plan that better suits your financial situation.

Borrow up to $50k to finally crush your debt

If you have thousands in debt and you’re barely making it paycheck to paycheck, you know how suffocating it is. Debt is always on your mind. It controls your life. And even if you make on-time payments, they’re so expensive that you have nothing left over.

A personal loan could help you get out of this situation and lift your monthly debt burden significantly. You could finally pay off all of your debt at once, get rid of the sky-high interest rates, and slash your debt load to one manageable monthly payment.

AmONE is a marketplace where you can find some of the best personal loans available. They match you with loans up to $50,000 with rates as low as 2.49%. That’s better than most credit cards. And easier than draining your bank account every month. Seeing what you qualify for doesn’t affect your credit score, and if you’re approved, you could get money the next day.

See what you can get

November 2024

After the U.S. Supreme Court struck down Biden's student loan forgiveness plan, the Biden administration began developing a new program through a formal process called negotiated rulemaking ("neg reg").

The final public session of neg reg ended on December 12, and more details are emerging about potential eligibility and relief amounts under this new plan, expected in 2024.

The new proposal aims to assist borrowers with higher balances due to accumulating interest and those unable to repay loans after about 25 years.

Typically, draft rules would be expected by June or July, with final rules by November 1. However, due to the upcoming presidential elections, there might be an effort to expedite this timeline.

Bottom line

Student loan repayment can seem daunting, especially for those struggling to pay other bills or get out of debt in other areas of their lives.

If you are struggling to pay student loans, your student loan servicer should be able to discuss better repayment options and suggest any forgiveness for which you might be eligible.

More from FinanceBuzz: