Mon Sep 16 15:47:21 UTC 2024: ## Student Loan Grace Period Ends: Borrowers Face Credit Reporting Consequences

**Washington, D.C. -** A crucial safeguard for student loan borrowers is expiring this month, potentially leading to negative credit reporting for those who miss payments. The “on-ramp” period, which has protected borrowers from credit reporting consequences for missed payments since the pandemic began, officially ends on September 30th.

This means that borrowers who have been behind on their payments will now face the risk of having their missed payments reflected on their credit reports, which could negatively impact their ability to secure loans, rent an apartment, or even get a job.

The on-ramp period was implemented as part of the government’s response to the COVID-19 pandemic, providing relief to borrowers struggling with economic hardships. However, with the end of the on-ramp, borrowers are now required to resume making payments on their student loans.

Experts advise borrowers to contact their loan servicers to discuss their payment options and explore potential hardship programs available to those who are still facing financial difficulties.

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