There isn't an option to pause a Nanodegree program as yet. That said, if you are on a monthly subscription, you can cancel at any time, after which your access to the program will move to static access at the end of the billing cycle. And then, whenever you feel you are ready to get started again, you can re-purchase a subscription.
However, if you have purchased a bundle subscription, you are automatically committed to this period for your subscription and cannot pause in the middle. Once the bundle period ends, you can take a break from your Nanodegree program. To do this, you will have to cancel the subscription and re-subscribe once you feel that the time is right for you to pick it back up!
Few important things to note:
1. To keep the content fresh, the Nanodegree programs do get periodic updates. Hence, the content may see some changes while you are on your break. If this happens, then depending upon the changes, you might have to complete new and different projects to be eligible to graduate.
2. Generally speaking, if you come back quickly, usually all your progress would still be saved, but as mentioned above, we cannot guarantee it.
3. Any discounted price you currently have with your subscription would not rollover. You would need to re-enroll at the current price at that time.
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