March 2024 - An updated version of this video is now available: https://www.youtube.com/watch?v=cWcwcv6V4ck
Understanding how to repay your federal student loans can save you a lot of time and money. There are several repayment plans available, providing the flexibility you need. For more details, visit http://StudentAid.gov/repay
The Repayment Estimator has been replaced by the Loan Simulator: http://StudentAid.gov/loan-simulator
Topics this video will cover:
0:18 – Loan consolidation
0:41 – Which repayment plan should you choose?
0:49 – Standard 10-year repayment plan
1:03 – Graduated repayment plan
1:23 – Income-driven repayment plans (REPAYE, PAYE, IBR, and ICR)
1:53 – Recertifying your income-driven repayment plan
2:25 – Using the repayment estimator
2:52 – How to make a loan payment
3:20 – Finding out who your loan servicer is
3:27 – Auto debit benefits