Repaying Federal Student Loans

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Understanding the repayment process for your federal student loans can go a long way toward building a solid financial foundation. Before contacting your loan servicer to discuss repayment plans, use the Repayment Estimator to get an early look at which plans you may be eligible for, and see estimates for monthly payments and overall. You’ll need to sign in with your Federal Student Aid PIN, as the estimates are based on your loan information in the NSLDS. Visit their website for details.

What is “Income-Based Repayment?”
This is a repayment option you may request from your loan servicer(s). Income-Based Repayment (IBR) is designed to reduce monthly payments to assist with making your student loan debt manageable. If you need to make lower monthly payments, this plan may be for you. Visit the student aid website for details.

What is Public Service Loan Forgiveness (PSLF)?
The PSLF Program is intended to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans, while employed full time by certain public service employers. Visit the student aid website for details.