The debt ceiling deal hammered out between President Joe Biden and House Speaker Kevin McCarthy has big consequences for millions of Americans who owe student loans.

The deal suspends the government’s $31.4 trillion debt ceiling until 2024. Another provision restarts federal student loan payments – and interest – that have been on hold since the early days of the COVID-19 pandemic in March 2020.

According to the bill, the pause on student loans ends 60 days after June 30, making Aug. 29 the drop-dead date with payments due in September. Also, payments will restart no matter what the Supreme Court says in its decision on Biden’s plan to dismiss up to $20,000 in student loans per borrower. That decision is expected in June or July.

Either way – it’s time to pay.

If the Supreme Court says student loan forgiveness can go ahead, about 25 million Americans would still have to start paying, USA Today reported. Of the roughly 45 million people who hold student debt, about 20 million would have their debt completely erased under Biden’s plan, meaning the remaining will have to pay something, even if their balances have dropped if the loan forgiveness is upheld.

The debt ceiling bill also prohibits Biden from extending the pause on student loans without Congressional approval.

But even when the pause ends, borrowers may not have to immediately make payments, Forbes reported. Restarting the mechanism of payments – the Education Department’s loan servicing system will have to generate billing statements and send them to borrowers – can take a while. There will also be a payment window, meaning many people likely won’t see money due until late September or October.

The White House could adopt other measures that aren’t specifically prohibited in the debt ceiling bill, including a grace period that would allow for borrowers that miss a payment to not be penalized or waiving small debts such as those under $100.

For those who are expected to begin paying again, experts recommend borrowers create a profile on StudentAid.gov and make sure their contact information is correct in order to receive critical updates. It’s also recommended people contact their loan service provider to get up-to-date information on what’s due and any available repayment plans.

Especially important – USA Today reports if you had autopay for your student loan before March 13, 2020, you will have to reenroll. Your payments won’t automatically restart.