Biden's Education Department is planning for student-loan borrowers to resume payments in October — and companies will begin charging interest a month before

• The Education Department is asking student-loan companies to prepare for the student-loan payment resumption.
• According to documents obtained by Politico, companies will start charging interest in September.
• The department is anticipating the first monthly payment for borrowers will be in October.

Plans are underway to transition millions of federal student-loan borrowers back into repayment this year.