Of course. We'll help you stay on the path to successful repayment of your federal student loan.
Great. Can you tell me more about deferment and forbearance, for starters?
Yes. You can learn more about deferment and forbearance on our website.
Alright, then I guess I'll check there. What options do I have if I had a decrease in income?
You can apply to have your current IDR plan recalculated. You don't have to wait until your annual recertification is due.
I see. Is there a way to get temporary relief?
A deferment or forbearance allows you to temporarily stop making your federal student loan payments or temporarily reduce your monthly payment amount. This may help you avoid default.
Can you also tell me why I should apply for an income-driven plan?
Yes. An income-driven repayment (IDR) plan can make your payments more affordable because they are based on your income. Under an IDR plan, payments may be as low as $0 per month. You can estimate your monthly payments using Loan Simulator.
Do you want to know what to do after you apply?