Repayment Challenges

Contact Us

Repayment Assistance

800.343.8883

617.728.4200, ext. 5000

repaymentcounselor@asa.org

Mon – Thu: 8:00 a.m. – 10:00 p.m.
Fri: 8:00 a.m. – 5:00 p.m.
Sat: 8:00 a.m. – 12:00 p.m.
Sun: 5:00 p.m. – 9:00 p.m.

Please note: All times Eastern.

Repayment Options

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Successfully repaying a loan is all about finding the payment amount that works for you. If you are behind on your payments, look into these options—they could make repayment easier for you.

The normal schedule—and the one in which you pay the least interest overall—is standard repayment.
If you need to lower your monthly payments, you can do so by stretching your repayment period with extended repayment.
You can also pay less now without extending your repayment period by using graduated repayment.
If you don’t make enough money to cover your payments, you may be eligible for income-contingent repayment (for Direct Loan borrowers) or income-sensitive repayment (for Federal Family Education Loan Program borrowers).
If you have high student loan debt and/or a low income, the right plan for you may be income-based repayment.
Combine all your loans into a single loan—with a single payment—with a consolidation loan.

You are allowed to change your repayment plan once a year (or once you qualify for income-based repayment). Also, for all federal student loans, there is no penalty for paying off your loan before it is due.

Postponement, Forgiveness, and Discharge

If you are struggling to make any payment, you have other options.

You may be able to temporarily postpone your payments with deferment or forbearance.
You can see if you are eligible to have part of your balance forgiven or discharged.

Repayment Challenges

Contact Us

Repayment Assistance

Repayment Options

Postponement, Forgiveness, and Discharge

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