For the most up-to-date information about student loan debt relief, visit the Student Aid website.
Planning for repayment
Student loan borrowers should plan accordingly and work with their student loan servicer regarding making student loan payments. It is important to plan accordingly and make required payments so you can avoid student loan delinquency and default. Make sure to identify your servicer (see below) and contact them to update your contact information and ask questions, like how much you might owe or if you qualify for an income-driven repayment plan or one of the existing loan forgiveness programs, which your servicer can help you sign up for if you qualify.
Under the Saving on a Valuable Education (SAVE) Plan*, making even periodic or partial payments could lower the amount of interest you accrue each month.
*Note: A federal court issued an injunction preventing the U.S. Department of Education from implementing the Saving on a Valuable Education (SAVE) Plan and parts of other income-driven repayment (IDR) plans.
Identifying Your Loan Servicer
A loan servicer is a company that is contracted with the federal government to handle the billing and other services on federal student loans held by the U.S. Department of Education. You can find out who your loan servicer is on your account dashboard by logging into the Student Aid website or calling the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243. You can also see a list of contracted federal loan servicers and their contact information on the Federal Student Aid website.
If you borrowed a Perkins Loan (which is not held by the U.S. Department of Education), the school from which you borrowed the loan is your loan servicer. If you borrowed the Perkins Loan at the University of Nebraska-Lincoln, visit the Office of Student Accounts website for more information.
Additional Resources Regarding Student Loan Repayment
- Although you may select or be assigned a repayment plan when you first begin repaying your student loan, you can change repayment plans at any time for free. Contact your loan servicer if you would like to discuss repayment plan options or change your repayment plan.
- If you have multiple student loans you may be able to combine them into one loan with a fixed interest rate based on the average of the interest rates on the loans being consolidated. Learn more about loan consolidation.
- You must complete exit counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment. Learn more about exit counseling.