Federal Loan Repayment Options
Federal Student Loan Repayment Guidance
Federal student loan borrowers are responsible for repaying any loans that are not in deferment or forbearance. Use this page to learn what to expect as repayment begins and explore the tools and resources available to support you.
In general, repayment begins after you graduate, leave school, or drop below half-time enrollment, following any applicable grace period. You can review repayment basics on Federal Student Aid’s page for Student Loan Repayment.
You can review current federal repayment plans on Federal Student Aid’s page for Repayment Plans. This page explains a variety of repayment options including fixed payment plans and plans based on income.
Use the Federal Student Aid Loan Simulator to estimate your monthly payments, compare plans, and explore options based on your income, loan balance, and goals.
If your payment feels too high, do not ignore the bill. Review available options on Repayment Plans and contact your loan servicer right away. Some repayment plans are based on income, and in some cases the monthly payment may be lower.
An income-driven repayment plan bases your monthly payment on your income and family size. For some borrowers, payments may be as low as $0 per month. Learn more about Income-Driven Repayment Plans.
If you do not choose a repayment plan, your servicer will generally place you on the Standard Repayment Plan, which uses fixed payments over a set period. Learn more about Standard Repayment Plans.
Yes, many borrowers can change repayment plans if their financial situation changes. The best place to compare options is the Federal Student Loans Repayment Plans page or directly with your loan servicer.
Federal Student Aid advises borrowers to review this decision carefully because refinancing into a private loan may cause you to lose federal benefits such as income-driven repayment, deferment, forbearance, and some forgiveness or discharge options. See Student Loan Repayment for more information.
You can log onto StudentAid.gov and review your My Aid page to see your federal loan history and identify your loan servicer.
If you still have questions, Sacred Heart University Student Financial Assistance is here to help. We are happy to provide additional guidance about repayment planning and personalized loan exit counseling options.