Student loan debtors should prepare to pay
With government decision of resuming loan payments there are certain aspect you should take in consideration:
Step 1: Make sure you have updated any change on your contact information or check if it is accurate.
To make sure you get billing statements or other type of notification before your payment due date, check or update your contact information on your StudentAid.gov profile.
Step 2: Evaluate your options depending of your credit type if you can’t afford payments.
Depending on the type of loan you have you could have different options if you can’t afford payments. Your options will depend on whether the loan is federal or private:
- Federal loans:
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- Check out for repayment plans
- Look for a temporary authorized pause
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- Private loans:
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- Ask us for forbearance options
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Step 3: Watch out for scams
Scammers could try to take advantage of circumstances related to the pandemic and government relief packages. If you are looking for help, look only for certified agencies or counsellors. Scammers may claim you are eligible for loan forgiveness. Please remind these types of offers are in 99% chances a big scam.
