1 Additional Eligibility Requirements Could Apply

MOHELA presents a variety of choices to manage the repayment of your loans together with repayment plans and methods to lower your payment or provide temporary relief. To discover choices that can be found primarily based on situations you may be going through visit My Scenario.

Repayment Plans
A number of repayment plans are available to help handle your pupil mortgage account. Each repayment plan has distinct necessities which can end in paying less interest over time or provide better advantages similar to loan forgiveness. In case your circumstances don’t match the repayment plans listed beneath, we encourage you to name us at 888.866.4352 to discuss other alternate options.

Plans primarily based on the size of time in repayment:

  • Normal (Level) Repayment
  • Prolonged Repayment
  • Graduated Repayment

Plans pushed by earnings:

  • Revised Pay As You Earn (REPAYE)
  • Pay As You Earn (PAYE)
  • Revenue-Based Repayment (IBR)
  • Income-Contingent Repayment (ICR)
  • Earnings-Sensitive Repayment

There's too much to find out about earnings-driven repayment plans (IDR) and it will be significant that borrowers renew their IDR plan on time every year to keep away from potential penalties.

Estimate Your Payments
Repayment Plan Evaluator

Compare repayment plans and choose the suitable one to suit your wants (login required).
Repayment Estimator

Log in to StudentAid.gov to base estimates off of loans retrieved from the National Student Mortgage Information System (NSLDS) or enter your loan data manually.

Repayment Amortization
You may estimate your payments with various interest rates and mortgage phrases utilizing this calculator and examine a repayment amortization schedule.

Change Repayment Plans
For Earnings-pushed repayment plans:

Apply on StudentAid.gov to robotically retrieve final year’s revenue tax information from the IRS. Check in utilizing your Federal Scholar Assist ID after which select “Apply for Earnings-Pushed Repayment.” Observe the instructions to submit your software on-line. You possibly can create a FSA ID before finishing the application.

If you're past due or missed your annual recertification, please contact us for assistance.
For modifications to different repayment plans:

Our Customer support Representatives can assist you with requests for adjustments to different repayment plans, some of which may be changed by calling 888.866.4352.

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Dad or mum PLUS Loans don't qualify for IDR Plans. Borrowers with Guardian PLUS loans may consolidate and request ICR.

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Pub: 23 Apr 2023 17:27 UTC
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