Federal Loan Repayment

Loan Repayment Pause End

The student loan payment pause ended September 1, 2023. Now that the pause is over, interest will once again start accruing on your loans. Students not currently eligible for deferment or forbearance will be entering repayment. Borrowers starting repayment should take a few simple actions to make sure they remain in good standing.

The following quick steps can get you started (click on individual images below to enlarge) . Find out more at studentaid.gov.

Log in to studentaid.gov with your FSA ID. Login window. Text: Your FSA ID (the same you used to complete your FAFSA) will include a username and password. Once logged in, update your personal information and confirm your student loan servicer.

Confirm your student loan servicer. Text: Your servicer may vary depending on the type of loan you have. If you don't know who your servicer is, log on to studentaid.gov and visit the "My Loan Servicers" section of your dashboard.

Log in to your servicer account and update your contact information. Create an account or log in to an existing one via the servicer's website. Review and update your personal contact information, including your email and mailing address, so your servicer can reach you.

Reauthorize or select auto debit for monthly payments. If you were previously signed up for automatic debit before the payment pause began, you must reauthorize or select automatic debit through your loan servicer account to allow your monthly payments to be automatically withdrawn from your bank account.

Review your payment due date and amount. Make note of your monthly payment amount and the due date of your first payment on your servicer account, and update any changed banking information.

New Income-Driven Repayment Plan Option
If you are worried about being able to afford your monthly loan payment, checkout the new SAVE payment plan. This plan is the lowest cost option for most borrowers. Depending on your income, you may even qualify for $0 monthly payments.

The Biden administration's Student Debt Relief Plan
The Biden Administration’s plan to forgive up to $20,000 in student loans has been blocked by the Supreme Court. Applications for this relief are no longer being accepted. If there are any changes in the program status you will find updates on the FSA webpage.

Beware of scams
You might be contacted by a company saying they will help you get loan discharge, forgiveness, cancellation, or debt relief for a fee. You never have to pay for help with your federal student loans. Your loan servicer will be your partner in repayment. You can confirm your loan servicer information at studentaid.gov.