MOHELA presents a variety of options to manage the repayment of your loans together with repayment plans and ways to lower your cost or provide non permanent relief. To discover choices that can be found based on situations you may be dealing with visit My State of affairs.
Repayment Plans
A number of repayment plans can be found to assist handle your pupil mortgage account. Every repayment plan has distinct necessities which can lead to paying much less interest over time or supply better benefits resembling mortgage forgiveness. In case your circumstances don’t match the repayment plans listed below, we encourage you to name us at 888.866.4352 to discuss different alternatives.
Plans primarily based on the length of time in repayment:
- Customary (Stage) Repayment
- Extended Repayment
- Graduated Repayment
Plans driven by income:
- Revised Pay As You Earn (REPAYE)
- Pay As You Earn (PAYE)
- Revenue-Based mostly Repayment (IBR)
- Income-Contingent Repayment (ICR)
- Earnings-Delicate Repayment
There may be rather a lot to find out about earnings-driven repayment plans (IDR) and it can be crucial that borrowers renew their IDR plan on time every year to avoid potential consequences.
Estimate Your Payments
Repayment Plan Evaluator
Evaluate repayment plans and select the precise one to suit your wants (login required).
Repayment Estimator
Log in to StudentAid.gov to base estimates off of loans retrieved from the Nationwide Student Mortgage Knowledge System (NSLDS) or enter your loan information manually.
Repayment Amortization
You'll be able to estimate your funds with varied interest charges and loan phrases utilizing this calculator and examine a repayment amortization schedule.
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For Revenue-pushed repayment plans:
Apply on StudentAid.gov to automatically retrieve final year’s income tax info from the IRS. Sign up using your Federal Student Support ID and then select “Apply for Earnings-Driven Repayment.” Comply with the instructions to submit your application online. You may create a FSA ID earlier than finishing the application.
If you're past due or missed your annual recertification, please contact us for help.
For modifications to different repayment plans:
Our Customer support Representatives can help you with requests for adjustments to different repayment plans, a few of which may be changed by calling 888.866.4352.
Repayment Plan Summary
1 Additional eligibility necessities might apply.
Dad or mum PLUS Loans do not qualify for IDR Plans. Borrowers with Mum or dad PLUS loans could consolidate and request ICR.
1 Extra Eligibility Necessities Might Apply
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