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COVID-19 Emergency Forbearance is a temporary suspension of federal student loan payments due to the national emergency. During this period, your loan interest is set to 0% and no payments are required. This forbearance applies automatically to all federally-held student loans. You can opt out at any time by contacting your loan servicer.

To set up Auto-Pay, navigate to the Payments section and click "Payment Methods" to add your bank account. Once your account is linked, click "Enable Auto-Pay" in the payment settings. Auto-Pay enrollees typically receive a 0.25% interest rate reduction. Note: you must re-enroll in Auto-Pay after the COVID-19 forbearance period ends, even if you were enrolled before.

Federal student loan borrowers are eligible for multiple repayment plans: Standard (10-year), Graduated, Extended, and income-driven plans (IBR, PAYE, REPAYE, ICR). Eligibility for income-driven plans depends on your loan type, income, and family size. Use the Loan Repayment Simulator in the Tools section to compare plans and find the best fit for your situation.

Under the Standard 10-Year plan, your monthly payment is calculated to pay off your full principal and interest over 120 months. For income-driven plans, your payment is based on a percentage (typically 10-20%) of your discretionary income, which is defined as the difference between your adjusted gross income and 150% of the federal poverty guideline for your family size.

Income-Driven Repayment (IDR) is a set of federal student loan repayment plans that tie your monthly payment to your income and family size. IDR plans include IBR (Income-Based Repayment), PAYE (Pay As You Earn), REPAYE (Revised Pay As You Earn), and ICR (Income-Contingent Repayment). After 20-25 years of qualifying payments on an IDR plan, your remaining loan balance may be forgiven.

Your 1098-E Student Loan Interest Statement is available in the Documents section under "Tax Forms." The form is typically available by January 31st for the prior tax year. You may be able to deduct up to $2,500 in student loan interest paid during the year on your federal income tax return if your income is below the IRS threshold.