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Iowa College Student Aid Commission
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Difficulty Paying
Borrowers who experience difficulty making their monthly student loan payments should not wait until they have missed a payment to seek assistance. Skipping a payment and planning to catch up the next month is not the answer. There are many solutions to help borrowers keep their accounts current.
Borrowers who experience difficulty making their monthly student loan payments should not wait until they have missed a payment to seek assistance. Skipping a payment and planning to catch up the next month is not the answer. There are many solutions to help borrowers keep their accounts current.
Request a different payment due date
Borrowers with a student loan payment due the same week as their mortgage, rent, car payment, or other big bills may request to change their due date with their loan holder.
Select a different repayment plan
The right repayment plan can make a difference in a borrower's ability to successfully repay their student loans. Borrowers should review the various repayment plans available to federal student loan borrowers and contact their loan holder to discuss changing their repayment plan. Read More
Request a deferment or forbearance
Borrowers may temporarily postpone montly payments by requesting a deferment or forbearance from their loan holder. Borrowers should review the different deferment and forbearance options to determine which is the best fit for their specific situation and then contact their loan holder to request the appropriate postponement. Read More
Consolidate multiple student loans
For some borrowers, consolidating their student loans may make their monthly payments more manageable by reducing the size of their montly payment, moving loans with multiple lenders to just one loan holder or locking variable interest rates on Stafford loans borrowed before July 1, 2006. Read More
Investigate loan forgiveness
Borrowers should check eligibility requirements for loan forgiveness opportunities. Read More
Borrowers with a student loan payment due the same week as their mortgage, rent, car payment, or other big bills may request to change their due date with their loan holder.
Select a different repayment plan
The right repayment plan can make a difference in a borrower's ability to successfully repay their student loans. Borrowers should review the various repayment plans available to federal student loan borrowers and contact their loan holder to discuss changing their repayment plan. Read More
Request a deferment or forbearance
Borrowers may temporarily postpone montly payments by requesting a deferment or forbearance from their loan holder. Borrowers should review the different deferment and forbearance options to determine which is the best fit for their specific situation and then contact their loan holder to request the appropriate postponement. Read More
Consolidate multiple student loans
For some borrowers, consolidating their student loans may make their monthly payments more manageable by reducing the size of their montly payment, moving loans with multiple lenders to just one loan holder or locking variable interest rates on Stafford loans borrowed before July 1, 2006. Read More
Investigate loan forgiveness
Borrowers should check eligibility requirements for loan forgiveness opportunities. Read More
Late or missed payments can stay on a borrower's credit report for up to 7 years.