How can I lower my monthly payment?

The government gives you many ways to control the monthly cost of repayment. While that provides a lot of flexibility, it also creates a maze of options. Trying to navigate your way through may leave you frustrated as you run into one dead end after another.

We’ve created this section of the site as a guide through the maze. It’s a shortcut to plans and programs that match your needs. That lets you spend time researching and applying for repayment options you’re eligible to receive. It will also help you avoid paralysis brought on by too many choices.

To get the most out of the guide, work through this section in the following order.

Set My Repayment Goals

Complete three short exercises to define what you want from a repayment plan. Click here to get started.

Review Repayment Options

Match your goals to repayment options that meet your needs. This will create a short list of plans and programs to research.

Choose Your Path Forward

Investigate the plans and programs on your short list to determine if you should pause payments, switch repayment plans or apply for loan forgiveness.

If you’d like personalized help from a student loan counselor, contact one of the Borrower Advocates at Student Connections. Our services are paid for by hundreds of schools across the country and are FREE to you.

Weighing Current Needs against Future Expenses

Every repayment option has a cost. In general, this will be paid in one of two forms: higher monthly payments or greater overall expense. Your ideal plan will balance your present needs with future costs.