Managing PSLF and IDR Plans When Payments Resume in October
As you prepare for the return of federal student loan payments, take these steps to help yourself plan your budget accurately, potentially save money, and make an overall smooth transition back to regular monthly payments.
Published October 17, 2023
As you prepare for the return of federal student loan payments, take these steps to help yourself plan your budget accurately, potentially save money, and make an overall smooth transition back to regular monthly payments.
What do I need to do if I’m already enrolled in PSLF or an IDR plan when payments resume in October?
Check if you’re set up for automatic debit with your servicer or confirm if you need to re-activate automatic payments. Through most servicers, you will receive a .25% interest rate reduction for setting up automatic payments. You should also make sure that your monthly payment amount is correct based on your selected repayment plan so you know what you will be paying each month starting in October 2023.
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