Federal Student Aid (StudentAid.gov): Who Qualifies and What You Get
Learn how to manage your federal student debt through income-driven repayment plans and consolidation options.
This program provides resources and management tools for individuals who have taken out federal student loans.
Who it's for
This is designed for people who are currently borrowers of federal student loans.
What you get
You can access different ways to manage your debt, including options to consolidate multiple loans into one and access various income-driven repayment plans. Income-driven repayment plans are programs that set your monthly loan payments based on how much money you earn.
What it costs you
While there is no direct fee to use the portal, you are required to undergo annual recertification of your income to remain eligible for certain repayment plans.
The catch to know
The status of the SAVE plan is frequently subject to court injunctions, which means legal rulings can change how the plan operates or its availability.
How to apply
- Visit the official student aid website.
- Log in to your account to view your specific loan details.
- Review the available repayment and consolidation options.
- Follow the prompts to submit your information.