Of course. We'll help you stay on the path to successful repayment of your federal student loan.
Even if I just started to repay my loan?
Yes. Whether you are just beginning to repay your student loan s or have been in repayment for a while, sometimes you might have trouble affording your payment amount. Fortunately, there are solutions.
I see. What if I don't recertify on time?
In that case you'll be removed from the income-driven repayment plan and your monthly amount due will very likely increase.
Do you also know about this Temporary Relief for loans, would I be able to suspend my monthly payments as I am without work, as a result of COVID-19?
To provide relief to students during this time federal student loan borrowers are automatically being placed in an administrative forbearance which allows you to temporarily stop making your monthly loan payments. This suspension of payments will be from March 13, 2020 through September 30, 2020.
Is it possible that I could lower my payments on an income-driven repayment plan?
Yes this is possible and it might be better to consider a income-driven repayment plan than deferring payments altogether. Income-driven plans base your monthly student loan payments on your income and family size.
Are there any tax implications of going for an income-driven repayment plan?