Your Options If You Are Having Trouble Paying Your Student Loans
This article provides information on how to repay federal student loans. This article is excerpted from a guide to repaying federal student loans from web site of the U.S. Department of Education.
There are several repayment plans available, providing the flexibility you need. Here are some things you should know:
- You'll be asked to choose a plan. If you don’t choose one, you will be placed on the Standard Repayment Plan, which will have your loans paid off in 10 years.
- You can switch to a different plan at any time to suit your needs and goals.
- Your monthly payment can be based on how much you make. Learn about the Department's income-driven repayment plans.
Use the Repayment Estimator
The Repayment Estimator can help you figure out which repayment plan is best for you.
- Log in, and the Department of Education will pull in relevant information such as your loan amounts, loan types, and interest rates. Just enter some additional information, such as your income and family size, and your results will show what your payments would be under each repayment plan.
CLICK HERE To be redirected to the repayment estimator