Can I lower my monthly payment to an amount that works better for my budget?
If you have not defaulted on your student loan(s), work with your loan servicer(s) to discuss available options. Your loan servicer(s) can work with you to develop a repayment strategy and help you find a repayment plan that will fit your individual financial needs.
If you are delinquent on your student loan(s), you will first need to bring your loan(s) current before you can change your repayment plan. This can be done by paying the past due amount or requesting deferment or forbearance, if applicable, to cover the delinquent payments.
If you do not know who your loan servicer(s) is, go to the National Student Loan Data System (NSLDS), which is the centralized database for federal student loan information. You will find contact information for the loan servicer(s) of your federal student loan(s). If you have a private or state student loan(s), refer to the promissory note(s) to find contact information for your loan servicer(s).
If you are behind on your payments, contact us—we are here to help you.
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