Student loan borrowers have a variety of options when the time comes to start repaying their loans. Federal student loans offer the most flexibility, while the choices with private student loans are more limited. The best way for you to repay will depend on the kind of loans you have, how much you owe, and where you stand financially after graduation.

There are several ways to lower your student loan payment. The reason you want a lower payment and the type of loans you have will help determine which is best. If you have stable finances and want smaller student loan payments to give you extra money each month there are several options, such as refinancing. If you need to lower your monthly student loan payment so that you can make ends meet, you will want to consider an IDR program.

We are a document preparation and online storage company that helps guide thousands of borrowers through their programs every year, or we support them in managing their student loans independently. We ensure that you're on the right track with your loan discharge and finally ensure that your payment information is reported accurately from your servicer to the DOE.

There are at least four ways to prevent or stop garnishment: i. Receive favorable judgment at a hearing. ii. Combine your eligible debt into a new consolidated loan. iii. Enter and complete a rehabilitation program. iv. Repay the debt in full (or complete a new repayment contract).

At least one income-driven repayment plan is available for most federal student loans. Your monthly payment could be as low as $0/mth depending on your income. Each student borrower’s payment is set at an amount that is supposed to be affordable based on your salary and family size in an income-driven repayment plan. You must complete an recertification application annually if you wish to repay your federal student loans using an income-driven repayment plan.

If you have several student loans, you may be able to consolidate them into a single loan with a fixed interest rate based on the average of the interest rates on the combined loans. A Direct Consolidation Loan combines several federal student loans into a single loan. You will confirm the student loans you wish to combine and agree to repay the new Direct Consolidation loan by completing and signing a Federal Direct Consolidation Loan Application and new Promissory Note. Instead of numerous monthly payments from the individual loans, the consolidated loan has a single monthly payment, once finalized.

Client Portal - Provides registration and login information to access a personalized client portal account found at www.edaptusa.com Track the process of your loans throughout the duration of active service.   Upload/Download Important Documents   Limited Document Preparation Services –  We assist with preparing up to five (5) basic documents on behalf of members, which can include, but are not limited to:  Income-Driven Repayment (IDR) Plan Request  Standard / Graduated / Extended Repayment Plan Request  General Forbearance Request  Public Service Loan Forgiveness (PSLF) Employment Certification Form  Total & Permanent Disability application Borrower's Defense to Repayment Discharge Due to Death Closed School Discharge Public Service Loan Forgiveness (PSLF) Assistance – In addition to the above document preparation service, the Company can provide valuable insight and monitoring services specifically about PSLF.  PortalBoxx Services – The Company provides a Client-specific e-mail that can be utilized to consolidate the communication that the Client receives. NSLDS Monitoring Services – The Company can provide monitoring assistance to ensure all applicable federal systems accurately show all qualifying payments, plans, loans, and applicable dates to ensure the success of your program.  Client Services – Our top-notch customer service department is available to all members for help with difficult questions and situations that arise. 

The criteria for student loan forgiveness can vary depending on the specific forgiveness program and loan type. However, some common eligibility requirements include: Federal Student Loans: Department of Education (DOE) discharge and forgiveness programs require borrowers to have federal student loans. Private loans typically do not qualify for forgiveness. Public Service Loan Forgiveness (PSLF): Requires borrowers to work full-time in a qualifying public service or nonprofit position. In PSLF programs your loans will be forgiven by the DOE after 120 qualifying payments. Income-Driven Repayment Plan (IDR): Gives borrowers an affordable payment using their income, household size, and other factors. Repayment terms before student loan debt can be forgiven range from 10 years to 25 years depending on the repayment plan, loan type, and the amount you owe. Discharge: There are discharge programs for borrowers that meet different criteria like 100% disability (Total and Permanent Disability (TPD) Discharge) if your school closed while you were attending (School Closure Discharge) or if you felt you were misled or deceived into taking out student loan debt (Borrower’s Defense). Meeting Specific Program Requirements: Each forgiveness program has its own set of requirements, such as completing a certain number of years of service, making consecutive on-time payments, or meeting specific criteria related to the type of work or organization. It's important to thoroughly research the specific requirements of the forgiveness program you're interested in to determine if you meet the eligibility criteria. Consulting with your loan servicer or a student loan assistance organization can also provide valuable guidance in understanding and navigating the forgiveness process.

A federal student loan is a type of loan offered by the U.S. Department of Education to help students and their families pay for higher education expenses. These loans are different from private student loans, which are offered by banks, credit unions, and other private lenders.

Direct Subsidized Loans: These loans are available to undergraduate students with demonstrated financial need. The federal government pays the interest on these loans while the student is in school at least half-time, during the grace period after leaving school, and during deferment periods. Direct Unsubsidized Loans: These loans are available to undergraduate and graduate students, and they are not based on financial need. Unlike subsidized loans, borrowers are responsible for paying all interest that accrues on unsubsidized loans. Direct PLUS Loans (Parent PLUS Loans): These loans are available to parents of dependent undergraduate students and graduate or professional students. PLUS, loans require a credit check, and borrowers are responsible for paying all interest that accrues. Direct Consolidation Loans: These loans allow borrowers to combine multiple federal student loans into a single loan, potentially extending the repayment term and simplifying loan management. Consolidation can also make borrowers eligible for certain repayment plans and forgiveness programs. Federal Perkins Loans: These loans were available to undergraduate and graduate students with exceptional financial need, and they were issued by participating schools. However, the Perkins Loan program expired on September 30, 2017, and no new loans are being made under this program. It's important to note that the Federal Family Education Loan (FFEL) program, which included Stafford Loans, PLUS Loans, and Consolidation Loans, existed before July 1, 2010, but it was discontinued. All new federal student loans are now issued through the Direct Loan program.

An Income-Driven Repayment (IDR) Plan is a type of federal student loan repayment plan that bases your monthly payment amount on your income and family size. IDR plans are designed to make monthly payments more affordable for borrowers who may have difficulty making standard loan payments based on their income. There are several types of IDR plans, including: Income-Based Repayment (IBR) Plan: Under the IBR plan, your monthly payment amount is based on a percentage of your discretionary income, which is calculated as the difference between your adjusted gross income and 150% of the poverty guideline for your family size and state of residence. For new borrowers on or after July 1, 2014, payments are capped at 10% of discretionary income. Loans before July 1, 2024, will have the payment calculated using 15% of discretionary income. Pay As You Earn (PAYE) Plan: Under the PAYE plan, your monthly payment is based on a percentage of your discretionary income, but payments are capped at 10% of discretionary income which is calculated as the difference between your adjusted gross income and 150% of the poverty guideline for your family size and state of residence. and are never more than what you would pay under the Standard Repayment Plan with a 10-year repayment period. Save on A Valuable Education (SAVE) Plan (Formerly known as Revised Pay as You Earn (REPAYE) Plan): The SAVE plan is like the PAYE plan but is available to all Direct Loan borrowers, regardless of when they took out their loans. Under the SAVE plan, starting July 1, 2024, your monthly payment amount will be 5% of your discretionary income. Which is calculated as the difference between your adjusted gross income and 225% of the poverty guideline Income-Contingent Repayment (ICR) Plan: The ICR plan calculates your monthly payment as the lesser of 20% of your discretionary income using 150% of the poverty guideline for your family size and state of residence. Or the amount you would pay on a fixed 12-year repayment plan adjusted for your income. Parent PLUS loan borrowers are only eligible for the ICR plan. Income-Sensitive Repayment (ISR) Plan: This plan is available for borrowers with Federal Family Education Loans (FFEL) and bases your monthly payment on a percentage of your gross monthly income. It's important to note that enrolling in an IDR plan may result in a longer repayment term and more interest paid overtime compared to the Standard Repayment Plan. However, IDR plans can provide significant relief for borrowers struggling with high monthly payments.

The PSLF program is a federal student loan forgiveness program designed to encourage individuals to work in the public service professions. Under the PSLF program, borrowers may qualify to have the remaining balance of their Direct Loans forgiven after making 120 qualifying monthly payments while working full-time for a qualifying employer. Key features of the PSLF program include: Qualifying Employment: To be eligible for PSLF, borrowers must work full-time for a qualifying employer, which includes government organizations at any level (federal, state, local, or tribal), non-profit organizations that are tax-exempt under Section 501(c)(3) of the Internal Revenue Code, and other non-profit organizations that provide qualifying public services. Qualifying Loans: Only Direct Loans are eligible for forgiveness under the PSLF program. Other types of federal student loans, such as FFEL loans and Perkins Loans, are not eligible unless they have been consolidated into a Direct Consolidation Loan. Qualifying Payments: Borrowers must make 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. Qualifying repayment plans include Income-Based Repayment (IBR), Income-Contingent Repayment (ICR) Pay As You Earn (PAYE), the Save on A Valuable Education (SAVE), Revised Pay As You EARN (REPAYE), and the 10-Year Standard Repayment Plan. Application Process: After making 120 qualifying payments, borrowers can apply for forgiveness through the PSLF program. The application requires submitting an Employment Certification Form to verify qualifying employment and payment eligibility. Tax Implications: Unlike some other forgiveness programs, the forgiven amount under PSLF is not considered taxable income. It is important for borrowers to carefully review the eligibility criteria, maintain qualifying employment and payments, and submit required documentation to ensure they meet the requirements for loan forgiveness under the PSLF program.

Total and Permanent Disability (TPD) Discharge is a federal student loan forgiveness program that allows borrowers with a total and permanent disability to have their federal student loans discharged. This program provides relief to borrowers who are unable to work and earn income due to a severe and permanent disability. Key features of TPD Discharge include: Qualifying Disabilities: Borrowers must have a total and permanent disability that prevents them from engaging in substantial gainful activity (SGA) and is expected to result in death or last for a continuous period of at least 60 months (about 5 years). Qualifying Loans: Federal student loans, including Direct Loans, FFEL Loans, and Perkins Loans, are eligible for discharge under the TPD Discharge program. Private student loans are not eligible. Application Process: Borrowers can apply for TPD Discharge by submitting an application and supporting documentation, such as proof of disability from a physician or documentation from the Social Security Administration (SSA) indicating disability status. Review and Approval: Once the application is submitted, the Department of Education or loan servicer reviews the application and determines if the borrower meets the eligibility criteria for TPD Discharge. Discharge Benefits: If approved for TPD Discharge, borrowers' federal student loans are forgiven, and they are no longer required to make payments on their loans. Additionally, the forgiven amount under TPD Discharge is not considered taxable income. It is important for borrowers to understand the requirements and process for TPD Discharge and to provide accurate and complete documentation to support their application for loan forgiveness based on total and permanent disability.

Borrower's Defense (BD) is a federal student loan forgiveness program that allows borrowers to seek loan discharge if they believe they were misled or defrauded by their school. This program provides relief to borrowers who have experienced misconduct or deceptive practices by their educational institution. Key features of the Borrower's Defense program include: Misconduct or Deceptive Practices: Borrowers can apply for loan discharge under BD if they believe their school engaged in misconduct, such as false advertising, misrepresentation of job placement rates, or other deceptive practices that led them to enroll in the school or take out student loans. Qualifying Loans: Federal student loans, including Direct Loans, FFEL Loans, and Perkins Loans, are eligible for discharge under the Borrower's Defense program. Private student loans are not eligible. Application Process: Borrowers can submit a Borrower's Defense application to the U.S. Department of Education, providing detailed information and supporting documentation about the misconduct or deceptive practices they experienced at their school. Review and Approval: The Department of Education reviews each Borrower's Defense application to determine if the borrower's claims are valid and warrant loan discharge. If approved, the borrower's federal student loans are forgiven, and they are no longer required to make payments on their loans. Discharge Benefits: If granted loan discharge under Borrower's Defense, borrowers' federal student loans are forgiven, and they may be eligible for reimbursement of amounts previously paid on their loans. Borrowers need to gather evidence and documentation to support their Borrower's Defense application and to provide accurate and detailed information about the misconduct or deceptive practices they experienced at their school.

A School Closure Discharge is a type of federal student loan forgiveness program that allows borrowers to have their federal student loans discharged if their school closes while they are enrolled or shortly after they withdraw. This program provides relief to borrowers affected by the closure of their educational institutions. Key features of the School Closure Discharge program include: Qualifying Schools: Borrowers may be eligible for a School Closure Discharge if their school closes while they are enrolled or within a certain period after they withdraw, typically within 120 days (about 4 months). Qualifying Loans: Federal student loans, including Direct Loans, FFEL Loans, and Perkins Loans, are eligible for discharge under the School Closure Discharge program. Private student loans are not eligible. Automatic Discharge: In some cases, if a borrower's school closes and they are eligible for School Closure Discharge, the discharge may be processed automatically by the U.S. Department of Education or the loan servicer without the borrower needing to submit an application. Application Process: If the discharge is not processed automatically, borrowers may need to submit a School Closure Discharge application along with supporting documentation, such as proof of enrollment or withdrawal dates and information about the school closure. Discharge Benefits: If granted School Closure Discharge, borrowers' federal student loans are forgiven, and they are no longer required to make payments on their loans. Additionally, any payments made on the loans after the school closure may be refunded to the borrower. It is important for borrowers to understand the eligibility criteria and process for School Closure Discharge and to provide accurate documentation to support their application for loan forgiveness based on the closure of their educational institution.

Direct Loan Consolidation is a federal student loan consolidation program offered by the U.S. Department of Education. It allows borrowers to combine multiple federal student loans into a single Direct Consolidation Loan, simplifying loan management and potentially extending the repayment term. Key features of Direct Loan Consolidation include: Types of Loans Eligible for Consolidation: Direct Loan Consolidation allows borrowers to consolidate several types of federal student loans, including Direct Loans, FFEL Loans (Federal Family Education Loans), Perkins Loans, and some health education loans. Private student loans are not eligible for consolidation under this program. Single Monthly Payment: By consolidating multiple loans into one Direct Consolidation Loan, borrowers have the convenience of making a single monthly payment to one loan servicer instead of managing multiple payments to different lenders. Fixed Interest Rate: The interest rate on a Direct Consolidation Loan is fixed for the life of the loan, which can provide borrowers with stability and predictability in their monthly payments. Extended Repayment Term: Depending on the total amount of loans consolidated and the repayment plan chosen, borrowers may be able to extend their repayment term up to 30 years, which can lower their monthly payment amount but may result in paying more interest over time. Repayment Plan Options: Borrowers can choose from several repayment plans for their Direct Consolidation Loan, including Income-Driven Repayment plans (such as IBR, PAYE, and SAVE), Standard Repayment Plans, and Graduated Repayment Plans. Each plan offers different terms and monthly payment amounts based on the borrower's income and financial situation. It is important for borrowers to carefully consider the benefits and potential drawbacks of Direct Loan Consolidation, such as the impact on interest rates, repayment terms, and overall cost, before deciding to consolidate their federal student loans.

Up to 100% of student loan debt can be forgiven using different repayment plans and programs offered by the Department of Education (DOE).

No, payments resumed on student loan debt in October of 2023. Currently unless you have applied for a forbearance of deferment on your student loans payments are due to your federal student loan servicer.

Forbearance: Definition: Forbearance is a temporary suspension or reduction of student loan payments granted by the loan servicer. During forbearance, borrowers are not required to make regular payments, but interest continues to accrue on their loans. Types of Forbearance: There are two (2) types of forbearance General Forbearance: This type of forbearance is granted at the discretion of the loan servicer and may be available for borrowers experiencing financial hardship, medical expenses, or other reasons approved by the servicer. Mandatory Forbearance: Borrowers may qualify for mandatory forbearance if they meet specific criteria, such as being enrolled in a medical or dental internship or residency program, serving in AmeriCorps, or having monthly loan payments that exceed a certain percentage of their income. Deferment: Definition: Deferment is another option that allows borrowers to temporarily postpone their federal student loan payments. During deferment, borrowers may not be responsible for paying the accrued interest on certain types of loans, such as Direct Subsidized Loans and Perkins Loans, while the loans are in deferment. Types of Deferment: There are several types of deferment available, including, In-School Deferment: Borrowers enrolled in an eligible educational program at least half-time may qualify for in-school deferment, during which they are not required to make loan payments. Graduate Fellowship Deferment: Borrowers enrolled in an approved graduate fellowship program may be eligible for deferment while in the program. Unemployment Deferment: Borrowers who are actively seeking but unable to find full-time employment may qualify for unemployment deferment. Military Service and Post-Active-Duty Deferment: Borrowers serving in the military or who have recently completed active duty may be eligible for deferment. Borrowers need to understand the differences between forbearance and deferment, as well as the specific eligibility criteria and consequences associated with each option. Borrowers should contact their loan servicer to discuss their circumstances and determine the best option for managing their student loan payments.

A Federal Student Loan Servicer is a company or organization that manages the billing, repayment, and customer service aspects of federal student loans on behalf of the U.S. Department of Education (DOE). These servicers play a crucial role in assisting borrowers with their student loans and ensuring that loan repayment processes run smoothly.

Here is a list of the most common federal student loan servicers: MOHELA (Missouri Higher Education Loan Authority) Great Lakes Educational Loan Services, Inc. Nelnet Aidvantage Navient ED Financial Please note that you can find who your loan servicer is by checking www.studentaid.gov.

To determine who your federal student loan servicer is we recommend that you go to www.studentaid.gov and, log in using your FSA account (you may have to recover this information). There you will be able to see your loan details and inform you who your loan servicer is, how to contact them, and provide a link to their website.