Today marks the end of a pandemic-era freeze on federal student loan payments.

The Biden administration has promoted its income-driven repayment program as a “safety net,” allowing borrowers to avoid credit bureau reporting for delinquency. However, interest will continue to accrue during this forbearance period until October 2024, raising concerns about the long-term financial impact on borrowers.

The administration’s optional income-driven repayment program, known as SAVE, has also drawn scrutiny for its estimated $156 billion cost over a decade—a figure that could be significantly higher, according to the Congressional Budget Office. Republicans in Congress are moving to nullify the SAVE plan, citing its high cost to taxpayers and potential to incentivize colleges to raise tuition.