What are the available repayment plans?
For borrowers with certain Federal Loans, loan rehabilitation may be an option. Loan rehabilitation is the process of making twelve (12) voluntary consecutive monthly payments that are both reasonable and affordable. Upon satisfactory completion of twelve payments, borrowers can have their loans taken out of default and have their credit report repaired to reflect the current status of the loan. You will then be eligible to have the loan purchased by a lending institution. You will be able to repay the loan over an extended period of time, and you will again be eligible for additional Title IV student financial aid funds. For more information regarding the benefits of the loan rehabilitation options, please contact your ERS account manager at 1-800-377-1904. (b) Loan Consolidation Student loan borrowers who have multiple loans may want to consider the options of the Federal Loan Consolidation Programs. Loan consolidation allows you to refinance your education loans into one new loan wi
