Repayment

Understanding all of the repayment options available to you will help you to better meet your Federal education loan obligations in the most affordable manner possible. For instance, our counselors are available to explain the benefits and implications of various repayment plans, which include:

• Standard Repayment.
• Extended Repayment.
• Graduated Repayment.
• Income-Contingent Repayment.
• Income-Sensitive Repayment.
• Income-Based Repayment.

In most cases, student-borrowers are allowed to change their repayment plan. However, choosing a plan with low monthly payments generally extends the length of the loan and increases the amount of interest owed. Each repayment plan’s loan term, minimum payment criteria, and loan program requirements vary. Our counselors will help you assess which plan suits your particular financial situation and will also suggest consolidation, forbearance, and deferment options when appropriate.

Even if you have already defaulted on your student loan, you may be able to rehabilitate the loan by making a series of qualifying payments. Rehabilitation allows you to once again qualify for Federal education loans and removes negative impacts to your credit history.

You should call one of our counselors to discuss your next move if you are struggling with your current repayment plan, are interested in loan consolidation or rehabilitation, or simply want to learn more about your options.