This is the best summary I could come up with:

After several extensions by both the Trump and Biden administrations, the pause will finally expire this fall after Congress prohibited the president from extending it another time.

Income-driven plans tie monthly payments to a borrower’s income and family size and don’t take the amount of debt or interest rate into account.

But note that if a repayment plan lowers monthly payments, it may also increase how much is paid back over time due to interest and extend how long it takes to pay the loan off.

Borrowers should expect it to take about four weeks for a loan servicer to process an income-driven plan application, Biden administration officials have said.

But for the next year, through September 30, 2024, the government is providing what it’s calling an “on-ramp period,” during which borrowers are shielded from other normal consequences of missing a payment.

This pathway requires the Department of Education to undertake a formal rule-making process, which typically takes months or even years – and could still face legal challenges.

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