The Dept. of Education has reinstated the online application for Income Driven Repayment plans and loan consolidation. Borrowers on the SAVE plan remain on an interest-free forbearance until further notice or unless they apply for another IDR plan. To learn more and get guidance on recertification deadlines, click here.

If Forgiveness or Paying Loans Off Is Not Feasible

Consider the following:

Federal student loans are discharged upon death: Explore your repayment plan options using the FSA Loan Simulator. Enroll in the plan with the lowest monthly payment to minimize financial strain.

Plans include:

  • Extended Repayment Plan
  • Income-Driven Repayment plan (like SAVE, PAYE, IBR, ICR)

Learn more about repayment plans and strategies.

Understand the consequences of default. Defaulting on loans can lead to wage garnishment, tax refund and social security offsets, loss of eligibility for future financial aid, damaged credit, and additional fees.

Learn more.

Explore loan rehabilitation or consolidation if you want to get your loans back in good standing.

Learn more.


Related Articles

Share this:
wpChatIcon
wpChatIcon