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Federal student loans offer flexible repayment plans, loan consolidation, forgiveness programs, and more. We can help you manage repayment and answer any questions you have along the way. Enroll in, Recertify, or Change an Income-Driven Repayment (IDR) Plan.
A loan is money you borrow and must pay back with interest. Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organizations. Federal student loans usually have more benefits than private loans.
Federal student loans offer many benefits that don’t typically accompany private loans. These include fixed interest rates, income-based repayment plans, loan cancellation for certain types of employment, deferment (postponement) options, and interest rate reduction based on repayment method.
Find out how to apply for federal student aid, manage your loans, and explore debt relief options at StudentAid.gov.
The Supreme Court blocked the one-time debt relief plan (you may also know this as the forgiveness of up to $20,000 for Pell Grant borrowers). But you may be able to get help repaying your loans, including full loan forgiveness, through other federal student loan programs.
Fresh Start is a temporary program from the U.S. Department of Education (ED) that offers special benefits for borrowers with defaulted federal student loans. Fresh Start ends Sept. 30, 2024. Fresh Start automatically gives you some benefits, such as restoring access to federal student aid (loans and grants).
Federal Student Aid (FSA) is your federal loan provider. FSA uses servicers (private companies) like MOHELA to manage billing, questions, and payments, and to help you enroll in the best repayment plan for you.
Figuring out which student loan repayment plan is right for you is a little easier with Loan Simulator, our student loan repayment calculator. The tool helps you review different student loan repayment plans and compare estimated monthly payments, total paid over time, and more.
Do you have federal student loans in default? If so, don’t miss out on the Fresh Start program. This temporary program (ending Sept. 30, 2024) allows you to get out of default more easily and more quickly than normal methods. Over 6 million borrowers are eligible as of January 2024.
Compare federal student loan repayment plans, including the new Saving on a Valuable Education (SAVE) Plan, using our student loan calculator to see which plan best meets your goals.