Get Back on Track With Student Loans A post on “Homeroom,” the U.S. Department of Education blog, offers tips for people who have fallen behind on their federal student loan payments. The post urges borrowers to contact their loan servicer, who will explain options for lowering or temporarily postponing payments, and for keeping the loan in good ... News in Brief
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News in Brief  |   January 01, 2015
Get Back on Track With Student Loans
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Practice Management / Professional Issues & Training / News in Brief
News in Brief   |   January 01, 2015
Get Back on Track With Student Loans
The ASHA Leader, January 2015, Vol. 20, 12. doi:10.1044/leader.NIB4.20012015.11
The ASHA Leader, January 2015, Vol. 20, 12. doi:10.1044/leader.NIB4.20012015.11
A post on “Homeroom,” the U.S. Department of Education blog, offers tips for people who have fallen behind on their federal student loan payments.
The post urges borrowers to contact their loan servicer, who will explain options for lowering or temporarily postponing payments, and for keeping the loan in good standing while the borrower gets his or her finances in order.
Some options that a servicer may suggest include:
  • Switching the borrower’s monthly payment date to coincide with the borrower’s paydays.

  • Changing to a repayment plan with lower monthly payments (but which may result in paying more over the life of the loan).

  • Changing to an income-driven repayment plan (but which also may cost more in the long term).

  • Consolidating multiple federal student loans.

  • Asking for a deferment or forbearance, which allow borrowers to temporarily postpone or reduce their payments.

The blog post also includes links for loan servicers and information on all the possible options.
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FROM THIS ISSUE
January 2015
Volume 20, Issue 1