4 Steps to Take Now For Easier Student Loan Payments

1. Make Sure Your Contact Information Is Up To Date.

Who is my student loan servicer?
Your loan servicer works with you to handle billing and other services of your federal student loan, at no cost to you. If you’re not sure who your loan servicer is, you can call 800-433-3243.

2. Learn Your Student Loan Repayment Options.

• Income-driven repayment (IDR) plan – This type of plan adjusts your monthly student loan payment based on your income and family size. You can and choose the best one for you.
• – In certain situations, like if you work in public service, you can have your federal student loans forgiven, canceled or discharged – which means you won’t have to pay back some or all of your loan.
• Student loan deferment or forbearance – You may be eligible to temporarily suspend your payments, but you typically need to apply or send in documentation to your loan servicer for consideration. Just keep in mind this won't help you make progress toward paying back your loan.

3. Set Up Automatic Payments For Your Student Loan, If Possible.

Important reminder: You’ll likely need to sign back up for autopay if you were enrolled before the student loan payment pause.

4. Know How To Avoid Student Loan Repayment Scams.

• Don’t pay for help with your student loans. You can get help for free at StudentAid.gov/repay. For private loans, you should speak directly with your loan servicer.
• Never share your Federal Student Aid (FSA) ID login credentials.
• Be wary of calls, emails or any other claims promising debt relief or loan forgiveness. Scammers have gotten exceptionally good at impersonating legitimate organizations, like the Department of Education, using real-looking names and logos.
• Don’t click on any links you receive in suspicious texts or emails claiming to be about student loan repayment. When in doubt, call or email the organization using their direct contact information.