Student Loan Borrowers
If your Loan is NOT in Default
Prepare for your upcoming payment
As a result of legislation enacted by Congress, the student loan payment pause is ending. Interest on your loans resumed on Sept. 1, 2023, and your first payment is due in October.
What do you need to do?
- Update your contact information.
- Make sure your information is correct with StudentAid.gov
- Make sure your information is up to date with any / all servicers of your loan(s)
- Compare repayment options
- An income-driven repayment (IDR) plan may be a more affordable option. IDR plans adjust your payment amount based on your income and family size.
- If you were on an IDR plan before the payment pause, you have at least six months to recertify your income after the payment pause ends. Usually, this has to be done each year.
- Consider recertifying for a lower payment if your income has decreased or your family size has increased.
- Enroll (or reenroll) in auto pay.
- Auto pay is optional, but you’ll save 0.25% on your interest rate if you choose auto pay. On auto pay, you’ll get a reminder ahead of each withdrawal. Sign up for auto pay on your servicer’s website.
- Check if you qualify for a type of loan forgiveness.
- Forgiveness options exist for people who work in public service, people who can’t pay due to a disability, those who were defrauded by their school, or those who enrolled in a school that abruptly closed, among others.
- Forgiveness options exist for people who work in public service, people who can’t pay due to a disability, those who were defrauded by their school, or those who enrolled in a school that abruptly closed, among others.
- Need help knowing your options?
- Fill out our Student Loan Assessment Intake and we’ll let you know where you stand.