To determine which student loan plan you are on, there are a few options:
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Check with your loan servicer: Log into your online account and look for an area that includes your loan information. Your loan servicer can verify which income-driven repayment plan you’re enrolled in.
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Download your student loan file from the National Student Loan Data System (NSLDS): This is the most accurate way to confirm your IDR plan.
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Log into StudentAid.gov: Select “My Aid” in the dropdown menu under your name. In the “Loan Breakdown” section, you can identify your loan types.
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Use the Loan Simulator on StudentAid.gov: This tool can help you estimate what repayment plans you may be eligible for and to receive a comparison of estimated monthly payment amounts.
Its important to note that there are several types of student loan repayment plans, including Standard, Extended, Graduated, Income-Based, Pay As You Earn, and Saving on a Valuable Education. If you have private student loans, you may have different options available to you than if you have federal student loans. The best repayment plan for you will depend on your goals and financial situation.
