Loan repayment options
Even though most borrowers are assigned a standard repayment plan when you first begin repayment, you can change your repayment plan with your federal loan servicer to fit your needs. For more information on each type of repayment plan, please visit the Federal Student Aid website Repayment Plan List.
There are also specific repayment plans that borrowers must be enrolled in in order to qualify for the Public Service Loan Forgiveness (PSLF) program. To qualify for PSLF, you must
- Be employed by a U.S. federal, state, local, or tribal government or non-for-profit organization (federal service includes U.S. military service);
- Work full-time for that agency or organization
- Have Direct Loans (or consolidate other federal student loans into a Direct Loan);
- Repayment your loans under an income-driven repayment plan; and
- Make 120 qualifying payments.