It’s almost time to resume student loan payments. What happens if you don’t?

File - Columbia University class of 2020 graduates pose for photographs on Commencement Day on Wednesday, May 20, 2020, in New York. After three years, the pandemic-era freeze on student loan payments will end in late August. It might seem tempting to just keep not making payments, but the consequences can be severe, including a hit to your credit score and exclusion from future aid and benefits. (AP Photo/Frank Franklin II, File)

NEW YORK (AP) — After three years, the pandemic-era freeze on federal student loan payments will end this fall and more than 40 million Americans will have to start making payments again under the terms of a debt ceiling deal approved by Congress.