More than 40 million Americans will have to start repaying federal student loans in October after a more than three-year hiatus, but that’s not the only date you need to know after the Supreme Court struck down President Joe Biden’s student loan forgiveness plan.

Biden announced last summer a one-time plan to erase $10,000 in federal student loans, including Parent Plus loans, for those earning less than $125,000 or households with less than $250,000 in income. Pell Grant recipients, who typically demonstrate more financial need, would have received an additional $10,000 in debt forgiven. However, in a 6-3 decision last Friday, the Supreme Court said the program was an unlawful exercise of presidential power because it had not been explicitly approved by Congress.

Now that student loan repayment is officially back on, borrowers need to know interest begins accruing September 1 and the first payment will be due in October. They should also know the Biden administration has provided a so-called “on ramp” to help people ease back into the habit of making monthly payments.

Here’s a rundown of the important dates you need to mark on your calendars as well as how the “on ramp” can help you if you’re not ready to start repaying.

When do student debt payments begin?

The first payments are due in October. You should receive your bill in September or October—at least 21 days before your payment due date—with your payment amount and due date.

When does interest start on student loans?

Interest will start piling up again on September 1. During the student loan pause, no interest accrued.

What if I can’t start making payments in October?

Biden’s administration has created a temporary 12-month “on-ramp” from October 1 to September 30, 2024, so those who miss monthly payments during this period aren’t considered delinquent, reported to credit bureaus, placed in default, or referred to debt collection agencies.

Note, payments will be due and interest will accrue during this on-ramp period. Additionally, missed payments will not count toward loan forgiveness under any of the income-driven repayment (IDR) plans or Public Service Loan Forgiveness.

How do I know what my monthly payment amount will be?

Borrowers should receive a bill in September or October with the amount they owe.

They also can visit their account on their loan servicer’s website to see their payment amount once their disclosures or bills have been sent.

"Before then, they could contact their loan servicer to get details about their loan and repayment schedule options," said Theresa Cagle Fry, senior vice president and manager of IRA and retirement plans at wealth management firm Benjamin F. Edwards in St. Louis, Missouri.

Borrowers can also get an estimate of their payment amount and compare repayment plans by using Loan Simulator.

Call now: When student loan repayment starts, servicers predict long wait times, advise early action

Is the student loan forgiveness plan dead now?

Biden’s administration said it remains committed to its student debt forgiveness plan. The Department of Education initiated a “rulemaking process” under the Higher Education Act, which allows the Education Secretary to compromise, waive or release loans "under certain circumstances.”

By law, regulations related to federal financial aid must go through a negotiated rulemaking process that involves extensive public input and could take a year or longer. The process begins with public hearings and convenings of non-federal experts to discuss ideas.

The student loan forgiveness plan that the Supreme Court blocked Friday was linked to the 2003 HEROES Act, which says the government can provide relief to student loan borrowers amid a “national emergency,” allowing it to act to ensure people are not in “a worse position financially” as a result of the emergency.

Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at [email protected] and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.

This article originally appeared on USA TODAY: When does interest start on student loans? Timeline of what to expect