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How Student Loan Repayment Generally Works

Tap a step to check it off in order.

  1. Check which repayment plan you are on

    Student loans are commonly split into standard repayment and income-driven repayment plans β€” check which one applies to your loan first.

  2. Understand standard repayment

    Under standard repayment, once any grace period ends, you repay a fixed schedule of principal and interest regularly until the loan is paid off.

  3. Understand income-driven repayment

    Under income-driven repayment, payments begin once your income reaches a certain level and scale with your income, typically based on your reported tax or income data.

  4. Check your loan status with your loan servicer

    Your loan servicer's site or app lets you check your current balance and repayment schedule.

  5. Make an early payment if you can

    If you have extra funds available, you can apply for early repayment through your servicer to pay down principal ahead of schedule.

  6. Handle a missed payment before it becomes a problem

    If repayment is difficult, contact your loan servicer's support line before you fall behind, since deferment or an adjusted schedule may be available.

Start by checking which plan you are actually on

Standard repayment follows a fixed schedule after any grace period, while income-driven repayment scales your payment to your income once it crosses a threshold and generally uses your reported income data to set the amount. Which one governs your loan determines when repayment starts and how it is calculated, so confirm your loan servicer's specific terms rather than assuming.

Talk to your servicer before you miss a payment, not after

Under most income-driven plans, you are not obligated to make payments until your income reaches a certain threshold, but the specific threshold and how it is calculated depends on your loan servicer's rules, so it is worth confirming those details directly. If repayment becomes difficult for any reason, contacting your servicer's support line before a payment is actually missed generally opens up more options β€” like deferment or an adjusted schedule β€” than waiting until after you have already fallen behind.

Frequently Asked Questions

Do I have to make payments during a period with no income?

Income-driven repayment plans are generally structured so payment obligations are paused until income reaches a certain threshold, but the specific rules vary by servicer, so it is best to confirm the details directly.

What should I do if repayment is difficult?

Contact your loan servicer's support line before you actually fall behind β€” they can generally walk you through available options like deferment or an adjusted repayment schedule.