We will verify your new repayment terms with your loan servicer and continue to monitor your repayment plan.LOWER MONTHLY PAYMENTS If your monthly payments are unaffordable, you may be eligible for a lower payment through the Income-Driven Repayment (IDR) plans. We can help you enroll and ensu...
for millions of student loan borrowers nationwide who have had their financial futures held in limbo for nearly a year while this plan worked its way through the courts," Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, wrote in a statement....
Federal Student LoansStudent Loan Repayment Types of student loans Thefederal government,state agencies, andprivate lendersoffer student loans to cover education costs. These loans can be made for specific borrowers to accommodate unique financing needs. With so manytypes of student loansavailable, it’...
Multiple legal challenges made by states to the Saving on A Valuable Education (SAVE) plan could impact implementation of key aspects of the plan. For the most up-to-date developments, visit studentaid.gov. One of SAVE’s notable features is the potential for loan forgiveness, with different...
As of Jan. 16, 2025, 1.45 million student loan borrowers got forgiveness through the one-time IDR account adjustment. If you didn’t receive forgiveness this time around, apply for an IDR plan to earn credit.
with a maximum deduction of $2,500 per year. And if you’re getting any tax refunds, consider applying those funds to reduce your loan’s principal. If you’re returning to school, you could also deduct tuition/fees as well. For more information on taxes benefits, visit:studentaid.gov/...
Also, if income has changed significantly for these borrowers, they should update their information with their loan servicer "and get a new payment amount based on their current income," Shepard says. This can be done atStudentAid.gov/IDR. ...
To determine which plan works best for your financial situation, use theFederal Student Aid Loan Simulatorto calculate your monthly payment under each option and choose the most affordable one. When making a decision,keep in mind the long-term implications: while lower payments can be appealing, ...
“It helped me plan for graduate school since I was able to import my current student loans and project the future debt needed to attend graduate school. With the repayment options calculated and the life style expense analysis, I was able to project my financial life after graduation.” ...
You can consolidate multiple federal student loans into a single, new federal loan on studentaid.gov. To consolidate (a.k.a. refinance) private student loans, go directly to a private lender.