Income Driven Repayment (IDR) Plan and Saving on a Valuable Education (SAVE) Plan

Some changes are taking place with the IDR Plan and SAVE Plan. To learn more, visit IDR Plan Court Actions: Impact on Borrowers | Federal Student Aid.

Avoiding Student Loan Scams

Unfortunately, potential student loan scams are on the rise. Be aware of student aid scams and use these tips below to avoid these scams.

Play It Safe: Protect Yourself from Student Loan Scams

Here is how you can spot a scam from a student loan debt relief company:

1. They ask for your FSA ID username and password.
2. They want you to pay up-front costs or monthly fees.
3. They promise instant and complete loan cancellation or loan forgiveness.
4. They ask for you to sign and submit a third-party authorization or power of attorney.
5. They want you to act right away and claim that their offer is limited.
6. Any messages from them have spelling and grammatical errors.

If you are still unsure that it is a scam, visit The Federal Trade Commission for more tips.

Frequently Asked Questions

What is a Loan Servicer?  Your student loan servicer is the company assigned by the U.S. Department of Education to manage your federal student loan(s). They handle billing, answer your questions, and help you choose or adjust your repayment plan. Learn more at Loan Servicers.

I am currently enrolled in classes. Do I need to start making student loan payments?  If you are enrolled at least half-time, you do not need to start making payments as you have in-school deferment. If you graduate, stop attending classes or drop to less than half-time, you will need to start making student loan payments after your grace period ends. 

I do not know who my loan servicer is. How do I find out?  Visit and log in to studentaid.gov. Once logged in, update your personal information and you can view your student loan servicer. You will then want to log into the loan servicer’s website and create an account. 

How do I find out the amount of my monthly student loan payment?  You can log in to your loan servicer’s website and view your payment amount. 

What is the interest rate on my student loan?  To find the interest rate of your loan(s), log in to view your “My Aid” page. Then scroll down to your Loan Breakdown and select “View Loans” under each servicer’s name. (You may have one or more loan servicers.)

My monthly student loan payment is too high. What are my options?  Visit studentaid.gov to review Repaying Student Loans 101.

I am new to repaying student loans and have not made payments before. What do I do?  If you left school within the past 6 months, you will likely still be in your automatic grace period.  For most federal student loans, after you graduate, leave school, or drop below half-time enrollment, you have a six-month grace period before you must begin making payments. Not all federal student loans have a grace period.

How do I make a payment?  Pay loans through your account on your loan servicer’s website. Log in to see your loan servicer contact info.

Can I change my repayment due date?  Yes! If making your payment on another date works better for you, reach out to your loan servicer. 

What happens if I miss a payment?  Under normal circumstances, your student loan is considered delinquent if you miss a payment by your due date. If no payments are made for more than 270 days, your loan may go into default. Learn more about federal student loan delinquency and default.  

Can I lower my payment amount or sign up for a different repayment plan?  Possibly!  You can use Loan Simulator to see which repayment plan is right for you.

What Loan Forgiveness Options are Available?  There are several loan forgiveness options with very specific eligibility requirements. Student loans can be forgiven under certain  programs and parameters. To learn more, visit Student Loan Forgiveness | Federal Student Aid

I think I may have been contacted by a student loan scammer.  What should I do if I already gave my information or paid a student debt relief company?

• Contact your federal loan servicer to end any power of attorney or third-party authorization agreement. Also, make sure no unwanted changes were made on your loans.
• Contact your bank or credit card company, and request that payments to the debt relief company be discontinued.
• File a complaint with the Federal Trade Commission and Consumer Financial Protection Bureau.
• File a report of suspicious activity through Student Aid’s Feedback Center.
• Most importantly, log in to your FSA account and change your password.

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