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The four income-driven repayment plans are designed to help make your student loan debt manageable by creating a regular monthly payment amount that fits your income.
You may be eligible to lower your monthly student loan payment by enrolling in an income-driven repayment (IDR) plan. Under an IDR plan, payments may be as low as $0 per month. Compare your loan repayment options through Federal Student Aid’s Loan Simulator opens in new tab.
Log in to your online account Secure to get the latest information on your student loans. You can check due dates, make a payment Secure, manage automatic payments Secure, explore repayment options, and set up authorized payers Secure.
Some options available to you are the following: Forgiveness eliminates your obligation to repay all or part of your loan. (Forgiveness is primarily granted for permanent or total disability or death.) Change your repayment plan to either a Standard Repayment, Income Sensitive or Graduated Repayment.
1You are a new borrower for the IBR plan if you had no outstanding balance on a Direct Loan or FFEL Program loan as of July 1, 2014 or have no outstanding balance on a Direct Loan or FFEL Program loan when you obtain a new loan on or after July 1, 2014.
Income-driven repayment plans are often helpful since they give you a more affordable monthly payment based on your income. You can learn more about these options as well as how to apply them to your student loans at StudentLoans.gov. For private loans, visit your lender’s website to access repayment calculators.
Federal student loans have several repayment options to help you repay your student loans. Call your student loan servicer and they will help you work through your options. You can also consider refinancing or consolidating your student loans into one payment.
There are many repayment plans available for your federal student loans. Log in to your Nelnet.com account to explore what’s available, and find the plan that fits you and your budget. It’s good to avoid accumulating credit card debt or purchasing unnecessary big-ticket items. So when your loan enters repayment, you can focus on that first.
There are several repayment plans that tailor your payment amount to your income. Or you may qualify to temporarily postpone your payments. The most important thing is to reach out to us as soon as you think you need help.
We're here to help you find repayment options and to process your loan payments. We're committed to providing excellent service and helping you have a successful student loan experience. If you have loans with more than one servicer, you will need to make a payment to each.