Federal Loan Repayment News and Updates

Updated December 2023

The Office of Financial Aid wanted to share resources for alumni in repayment on federal loans.  Because of legislation passed by Congress, student loan payments have restarted. Borrowers can lower their payments, even to $0, by enrolling in the new SAVE Plan.

If you are having trouble making payments on your loans you do have options including forbearance and income-based repayment. To find out more visit http://studentaid.gov/h/manage-loans. 

You may also want to review this article on the Federal Student Aid website: "6 Ways to Prepare for Student Loan Repayment to Begin Again".

If you have been working in a public service field (non-profit, teaching, government) you may be eligible for Public Service Loan Forgiveness and/or Teacher Loan Forgiveness.  Check out these links to learn more about requirements.

You may have seen information in the news about general federal student loan forgiveness in recent weeks. There is some discussion among lawmakers as to whether the Federal Family Education Loan Program (FFEL) (loans prior to June 2010, also called Stafford Loans) should qualify for federal loan forgiveness. Even if FFEL loans do not qualify for forgiveness, there may be a period of time where FFEL loan borrowers can apply for loan consolidation under the Direct Loan program. To learn more about consolidation visit http://studentaid.gov/app/launchConsolidation.action.

As always, you should contact your loan servicer if you have questions about your federal student loans.  You can find information about your servicer, loan balance, and payment information by logging into studentaid.gov.