If you got a personal loan from a bank, you may have fewer options than a federal student loan. If you have difficulty paying out or lack of funds, your Student Advisor may suggest that you choose to delay payment, which will temporarily suspend your student loan. If you know how to navigate the student loan system, you will be able to find a payment plan that you can use to pay – and even save money. You will need to make sure that your student broker has your last address on file and find a payment plan that works for you. Any sustainable project like loan processing really takes time and deserves our attention when we do it,” says Elizabeth Amens Professor at Columbia University Law School and author of “Lif Admin: How I learned to Do Less, Do Better, and Live More”, a book about the invisible work we do in our lives. If you have government student loans, as most people do, go to the National Student Loan Data System. With IDR plans, you can repay your loans after 20-25 years, but you will still be able to repay as much as you can. The Student Loan Service is your first point of contact for student loans. Federal student loan payments are temporarily suspended. According to Latrielle, it may be a good idea to discontinue this measure, but in the long term it will allow you to receive higher payments and higher interest rates. Closed: Like the standard plan, it takes 10 years – but at the beginning it pays less, and payments are increased every two years. “In nine out of ten cases, an income-based payback will be a much better option,” says Bonnie Latray, head of the non-profit organization “Center for Student Loan Protection. The system suffers from confusing payment plan options, misinformation and pitfalls to avoid, and one mistake can cost thousands of dollars. Consolidation is the process of consolidating all your federal loans into a single federal loan. But even if your loans are suspended right now, you may have to start paying off at some point.