• Yosi Rahimi

Is there a fee for changing my federal student loan repayment plan?

Updated: Jan 21, 2019

No, there isn't. If you've been contacted with a company saying it can do it for a fee, do note that you can do it on your own and for free!

W. from Wisconsin, $27K of student loans debt

Some companies try to take advantage on the problem many graduates have in understanding & dealing with student loans. The fact is that the student loans system has variety of options for the borrowers, and it is usually free to take advantage on these options.

W. wanted to know if he needs to pay a fee to this company in order to change his repayment plan. The answer is NO. You don't have to pay anyone anything in order to change your repayment plan. Simple as that.

Want to check how you can lower your monthly payment? Money Compass allows you to easily find the best repayment plan to fit your goals. Click here to give it a try

Have a specific question regarding your loans? Send it to FreeAdvice@moneycompass.io

#studentloans #studentdebt #repaymentplans


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