Find the Right Student Loan Repayment Plan for You
With more than 100 student loan repayment options available, it can be overwhelming to find the right one. Whether on your own or with the aid of an advocate, our counseling services help federal student loan borrowers navigate the process to pinpoint the best repayment plan for your specific situation.
Regardless of the level of support you choose, we offer a money-back guarantee on all levels of student loan counseling.
3 Levels of Student Loan Support
Do It Yourself
Complete our online questionnaire and download your personalized student loan action plan with all available repayment options from our online portal.
Your action plan includes:
- Loan details
- Repayment estimates
- Eligible options
Over The Phone
A certified counselor conducts a deep dive of your student loan situation, guiding you through the questionnaire over the phone and helping you determine the best repayment option for your specific situation. This option is ideal for borrowers who want personalized and objective guidance from an expert throughout the process.
Receive your personalized action plan plus:
- One-on-one guidance
- Optimal solution
- Steps to implement
A student loan counselor helps you prepare documentation and works directly with your servicer to ensure your repayment plan is implemented.
Receive your action plan, phone support plus:
- Document prep
- Servicer calls
- Any needed follow-up
Your Federal Student Loan Repayment Options
Everyone’s situation is different and it’s important to consider all possible student loan repayment options based on your financial needs and the types of loans you have. If you have private loans, you will need to speak with your loan servicer to discuss what options are available to you.
With federal student loans, it’s important to determine three things before exploring your repayment options:
- Type of Loan: Certain loans have particular benefits and repayment options. For example, if your loan is unsubsidized and you defer your loans, interest will continue to accrue. This could lead to your balance increasing during deferment.
- Balance: While your studentaid.gov account will reflect your approximate loan balance, it may not be your balance as of today. For an exact balance or your payoff amount, you will need to contact your loan servicer.
- Repayment Status: Your loans could be in their grace period, repayment, deferment, forbearance or default status. Depending on your loan status, you may or may not qualify for certain federal student loan repayment options.
Once you have a basic understanding of your situation, there may be several student loan repayment options, such as:
- Repayment plans
- Student loan forgiveness
- Postponing payments
- Student loan consolidation
- Loan rehabilitation
You can contact your servicer for more information specific to your loan, including your most up-to-date balance or to sign up for automatic payments. For more information about which student loan repayment options are right for you, call 877-784-2008.
Frequently Asked Questions About Student Loans
Do I still need my federal or FAFSA PIN?
The FSA ID replaced the federal, or FAFSA, PIN in 2015. All past and present borrowers must establish an FSA ID to access their account information on federal student aid websites. To create an FSA ID, visit FSAID.ed.gov.
How do I create an FSA ID?
Visit FSAID.ed.gov to create your FSA ID. You will create a username and password, as well as provide personal information including your name, Social Security number and date of birth. You also will set up multiple challenge questions as an extra security measure.
I’m not sure how much I owe or who my lenders are. Where can I see all my student loan information?
You may have loans with several lenders, managed by different loan servicers. You can find information about your federal student loans via your studentaid.gov account. This system can provide names and contact information for lenders and servicers, as well as your balance, date of loan disbursement and repayment status.
If you have private student loans, you can find information about them on your credit report. You are entitled to one free copy of your credit report every year from each of the three major credit bureaus through AnnualCreditReport.com.
I am behind on payments and worried about my wages being garnished. Could that happen to me?
If your student loan is delinquent, you may be charged late fees and could receive collection calls. Missed payments also may be reported to the three major credit bureaus, seriously impacting your credit score.
If you have defaulted on your loans (usually occurring after 270 days without a payment for most federal student loans) you could face a number of potential consequences:
- Wage garnishment
- Withholding of tax refunds and/or other federal benefits
- Loss of eligibility for deferment, forbearance and repayment plans
- Loss of eligibility for additional federal student aid
- Legal action
If your loan has not yet defaulted, you may be able to prevent default by requesting a deferment or forbearance, or by enrolling the loan in a more affordable repayment plan. If your loan already is in default, you may be able to restore it from default status through rehabilitation or loan consolidation. Our student loan counselors can guide you through this decision and process during a phone counseling session.
I can’t afford my payments. What can I do?
If you cannot afford your student loan payments, it is important to get in touch with your loan servicer right away to review your options. Should you delay in contacting your servicer and miss payments, you could severely damage your credit. Fortunately, there may be a number of alternate options available to help keep you from falling behind on payments.
Depending on your loan, you may qualify for:
- Graduated or extended repayment plans
- Income-driven repayment plans
Should I consolidate my student loans? What are the pros and cons of consolidation?
Federal student loan consolidation is often a great option for borrowers because it can offer many benefits, including:
- Convenience of one monthly payment
- Communication with only one lender/servicer
- Lower total monthly payment
- Potential eligibility for additional repayment plans or forgiveness programs
- Possible renewed deferment options
Once consolidated, loans cannot be separated again, so loan consolidation may not be the best solution for everyone. It is important to evaluate whether consolidation makes sense for your situation before moving forward. Prior to consolidation, consider the following:
- You may pay more in total interest if you extend your repayment term
- You may lose any progress already made on your original loans toward loan forgiveness
- Certain loans may have special interest benefits or cancellation benefits that will be lost if consolidated
- Private student loans cannot be included in a federal loan consolidation
“I’m so happy with this, I am so thrilled this is taken off my back. I can’t tell you how much I appreciate guys like you, I have a Ph.D and I am so intimidated by this process.” –Kimberly M.
“Take Charge America has taken the stress out of paying my student loans. I put off paying my student loans for so long, trying to make arrangements with my loan servicer seemed overwhelming. I called other services similar to Take Charge America; they insisted they’d help me lower my monthly payments but asked for $500 up front and a $20 fee each month. I knew then that Take Charge America was the best option. I am quite satisfied with my new payment plan. I would definitely recommend Take Charge America to all the graduates out there who are in a similar situation.” –Sakina A.
“Yours was the only website that I trusted after Googling many sites that charged enormous amounts of money to get assistance for consolidating my student loans. When I found Take Charge America and heard the fee was minimal, I was so relieved, and it was affordable for me!
My counselor helped me through the entire process of consolidating my loans! She was wonderful, personable, friendly, down to earth (I feel like she was a friend and I feel like I knew her all my life) very patient and professional! Even through some snags, she was wonderful and understanding! The process was easy and she made it fun as well! I appreciate all the help! I will recommend Take Charge America to others that may need assistance!
” –Christine T.
“Our counselor was very patient with us and extremely knowledgeable about the entire process!” –Robert F.
“My counselor made me feel very comfortable in making my decision. I am very thankful for this program.” –Tara K.
“My counselor knew her topic, placed me on a conference call with the loan servicer, and interjected when I didn’t have the answer. I really appreciated Take Charge America’s help with our credit card debt, and I was confident to approach them about my student loan debt as well. I have a friend that I will be passing TCA’s information along to.” –Janet C.
“The counselor was excellent! I appreciated the honest appraisal of my student loan situation. She was courteous, professional, and extremely competent. She was straight-forward and laid out my options in a precise manner. I am extremely impressed by the service that TCA offers.” –Monica H.