If you’re working to pay off student loan debt and having second thoughts about your current repayment plan, it’s possible to make a switch. There are a number of other plans to choose from, and one of them may be a better fit.
For example, there are income-driven repayment (IDR) plans that might help reduce your monthly payments, and an Extended Repayment Plan that could give you more time to repay what you owe.
It’s also important to be aware that federal student loan repayment plans will be undergoing changes in mid-2026, as part of President Trump’s “One Big Beautiful Bill” that was signed into law in 2025. So this is a good time to explore what your options are and what it takes to switch student loan repayment plans.
Table of Contents
Key Points
• Borrowers can change their federal student loan repayment plan at any time.
• There is no limit to the number of times a borrower can switch to a new repayment plan.
• Certain repayment plans may better suit a borrower whose financial circumstances have changed.
• If a borrower is struggling to make student loan payments, switching to an income-driven plan may lower monthly payment amounts.
• Other student loan debt management strategies include loan forgiveness, deferment, consolidation, and refinancing.
Student Loan Repayment Plan Options
The average student loan debt for federal loans is $39,075 per borrower, according to the Education Data Initiative. The Education Department (ED) currently has several repayment plans for these loans. Some of them are income-driven plans that are based on discretionary income and family size. If your financial situation has changed since you started paying your loan, you might benefit from switching student loan repayment plans if you qualify.
The types of federal student loan repayment plans for federal student loans that are currently available to borrowers include:
Standard Repayment Plan
The Standard Repayment Plan is the default plan for federal student loan borrowers. This plan sets payments at a specific amount that allows borrowers to pay their loans within 10 years.
On the Standard Plan, monthly payments are fixed. Because the repayment time frame is relatively short, borrowers will likely save more money on interest than they would on a plan with a longer repayment timeline. However, their monthly payments will typically be higher because of the short loan term.
It’s important to be aware that the Standard Repayment Plan will change for loans taken out on or after July 1, 2026. The repayment term will then range from 10 to 25 years, and it will be based on the loan amount. If you owe $25,000 or less, your term will be 10 years; if you owe more than $100,000, your repayment term will be 25 years.
Income-Based (IBR) Repayment Plan
One of the three IDR plans currently available, the Income-Based Repayment Plan bases a borrower’s monthly payments on their discretionary income and family size. Most of the other IDR plans are scheduled to close down in 2027, but IBR will remain open to current borrowers.
If you qualify for the IBR plan, your monthly payment will be 10% of your discretionary income if you’re a new borrower on or after July 1, 2014, and you’ll repay the loan over 20 years. Any remaining balance at the end of the loan term will be forgiven.
Income-Contingent (ICR) Repayment Plan
The Income-Contingent Repayment Plan sets a borrower’s payments at the lesser of 20% of their discretionary income or what they would pay on a repayment plan with a fixed payment over 12 years, adjusted to their income. ICR has a repayment term of 25 years.
This repayment plan closes to new enrollees on July 1, 2027. Those already on the plan have until July 1, 2028 to switch to the IBR plan or the new Repayment Assistance Plan (RAP) that will be launched by the Education Department in July 2026.
Pay As You Earn (PAYE)
On PAYE, monthly payments are 10% of a borrower’s discretionary income, and the loan term is 20 years. To be eligible, an individual must be a new borrower as of October 1, 2007, and have received a Direct Loan disbursement on or after October 1, 2011. On PAYE, a borrower’s monthly payment must also be less than what it would be on the Standard Plan.
Like ICR, PAYE is also closing down on July 1, 2027. Those already on the plan will need to switch to the IBR or RAP plan by July 1, 2028.
The Latest on SAVE
One income-driven plan that is no longer available is the Saving on a Valuable Education (SAVE) plan. SAVE was closed to new borrowers in February 2025, when a court order blocked it. Those enrolled in the plan were placed in forbearance.
So what should you do if you are enrolled in SAVE? In December 2025, the ED announced a proposed settlement with the court that would end the SAVE plan, and said that it would “move all SAVE borrowers into available repayment plans.” ED said it would “reach out to SAVE borrowers in the coming months with more information.”
Graduated and Extended Repayment Plans
The Extended Repayment Plan allows borrowers to repay their loans over a period of up to 25 years. Because of the long loan term, monthly payments will generally be lower, but borrowers will pay more in interest over the life of the loan compared to plans with shorter terms. To qualify for this plan, you must have more than $30,000 in outstanding Direct Loans or more than $30,000 in outstanding Federal Family Education Loans (FFEL) loans.
Under the Graduated Repayment Plan, a borrower starts with lower monthly payments that are gradually increased, typically every two years, over the course of 10 years.
Can You Change Your Student Loan Repayment Plan?
You can change your federal student loan repayment plan at any time. There is no cost to changing your federal student loan repayment plan.
Depending on the type of repayment plan you’d like to switch to, however, you may need to meet certain eligibility requirements.
Eligibility Requirements and Restrictions
Some plans, such as the Extended Repayment Plan and the IDR plans, have certain eligibility requirements. For example, to be eligible for the Extended Repayment Plan, a borrower must have more than $30,000 in outstanding Direct Loans or more than $30,000 in outstanding Federal Family Education Loans (FFEL) loans.
The requirements a borrower will need to meet to qualify for an IDR plan include:
• Having an eligible loan type. Qualifying loans for IDR plans are Direct Loans (including Direct PLUS Loans for graduate or professional students, and Direct Consolidation Loans that did not repay any PLUS loans), Federal Stafford Loans, FFEL PLUS Loans made to graduate or professional students, FFEL Consolidation Loans that did not repay any PLUS loans made to parents, and Federal Perkins Loans, if these loans are consolidated.
• Meeting an income cap for PAYE and ICR. Your income must be less than what you’d pay on the 10-year Standard Plan to be eligible for these plans.
• Being a new borrower for PAYE. To qualify for PAYE, an individual must be a new borrower as of October 1, 2007, and have received a Direct Loan disbursement on or after October 1, 2011.
• Recertifying every year. Borrowers must recertify their income and family size annually to remain on an IDR plan.
How Often Can You Change Your Student Loan Repayment Plan?
There’s no limit to how many times you can change your student loan repayment plan. You can change repayment plans multiple times during the life of the loan.
There are a few things to keep in mind, though, if you’re thinking about making a switch.
Factors to Consider Before Making a Change
Be aware that every time you change your student loan repayment plan, the interest rate and amount you pay may change. This could work to your advantage if interest rates are low, but if they aren’t, you could end up paying more for your student loan if you change your repayment plan.
Also, reducing your monthly payment may extend the number of years you pay back your loan, which means you’ll pay more in interest the longer you take to repay it. With a 10-year repayment plan, for example, you’d pay less in interest overall than you would with a 25-year plan.
Finally, if you are pursuing student loan forgiveness, changing your repayment plan could affect the qualifying payments you need to make. Not all repayment plans qualify for all types of federal forgiveness.
How to Change Your Student Loan Repayment Plan
If you’re wondering how to change your student loan repayment plan, the process is relatively simple. The easiest way to do it is online.
Steps to Switch Repayment Plans Online
To get started, log into your account at StudentAid.gov. You’ll need your FSA ID. From there, follow these steps:
1. Click on “Loan Repayment.” From the drop-down menu choose the Loan Simulator and go to “I Want to Find the Best Student Loan Repayment Strategy.” The simulator will use your personal information, such as your income and dependents, to identify which plans you are eligible for.
2. You can explore the different options you’re able to choose from to compare how much you might pay on each plan. Click on “View and Compare All Plans” at the bottom. This will allow you to see your monthly payment and total payments over the life of the loan.
3. Decide which repayment plan makes the most sense for you. If you opt for an income-driven plan, you’ll need to apply for it (you’ll see an option to do that — just click on it).
4. If you choose a fixed repayment plan, like the Graduated Repayment Plan or the Extended Repayment Plan, you can contact your loan servicer to request the new plan. You can find out who your loan servicer is by going to your student loan account dashboard and scrolling to the “My Loan Servicers” section.
Documentation You May Need to Provide
To switch to an IDR plan, you may be required to provide proof of income, such as pay stubs or a recent tax return. You’ll also need to provide your family size and marital status, and your spouse’s financial information, if applicable. Once approved for an IDR plan, you’ll need to recertify each year to continue with the plan.
Your application to change your repayment plan may take some time, so be sure to continue making your current student loan payments in the meantime.
Other Options for Lowering Your Student Loan Payment
Changing repayment plans isn’t the only way to potentially lower your student loan payments. These are some of the other methods you can explore.
Loan Forgiveness
If you work full-time in public service or you’re in education, there are federal loan forgiveness programs you may qualify for, such as Public Service Loan Forgiveness (PSLF), which forgives the remaining balance on your eligible loans after 120 qualifying payments made under an eligible repayment plan while working for a qualified employer. If you’re a teacher, and you’ve taught full-time for at least five consecutive years in a low-income school or educational service agency, you might be eligible for Teacher Loan Forgiveness.
Deferment or Forbearance
Borrowers looking for a way to temporarily pause or reduce their federal student loan payments may want to consider student loan deferment or forbearance. While these two programs are similar, there are some key differences. During deferment, borrowers are not required to pay the interest that accrues on their qualifying federal loans. In forbearance, however, borrowers must always pay the interest that accrues on their loans.
Deferment is designed for borrowers with financial difficulties. Forbearance comes in two types — mandatory, which must be granted to those who qualify, such as National Guard members; and general, which your loan servicer must approve you for.
Loan Consolidation
Borrowers who have more than one student loan and are struggling to juggle multiple payments, due dates, and interest rates, may want to consider consolidating student loans to streamline things.
A Direct Consolidation Loan allows borrowers to combine multiple federal loans into one. The interest rate of the new loan is a weighted average of rates of the loans you’re consolidating, rounded up to the nearest one-eighth of a percent. Consolidation can simplify loan payment, but just be aware that it may not save a borrower money because of the weighted interest rate.
Refinancing to a Private Loan
Another option is to refinance student loans with a private lender. With refinancing, you exchange your current loans for one new private loan — ideally one with more favorable rates and terms.
Refinancing could reduce your monthly payments, especially if you qualify for a lower interest rate. Choosing a longer loan term may also lower your monthly payments. However, you might pay more interest over the life of the loan if you refinance with an extended term.
Keep in mind that refinancing federal student loans makes them ineligible for federal benefits, including income-driven repayment plans and student loan forgiveness. Make sure you won’t need those benefits before you move ahead with refinancing.
If your current federal student loan repayment plan isn’t working for you, you have the option of changing to a new plan. There are income-driven plans that might lower your monthly payments, and extended and graduated plans that could help you lower or stretch out your payments over a longer term. You can explore different repayment options on the Federal Student Aid website to see what might be a good fit for your situation. And keep in mind that changing repayment plans isn’t the only option for making it easier to manage your loans. You could also consider student loan forgiveness, deferment, loan consolidation, and refinancing. The point is, you have choices when it comes to repaying your student loan debt. Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
FAQ
Can I change my repayment plan for student loans?
Yes, you can change your repayment plan for federal student loans whenever you like. You can choose a new plan, such as an income-driven repayment plan or the Graduated or Extended Repayment plans. You could also consider consolidating your loans, refinancing them, or pursuing student loan forgiveness, if you qualify.
Can you change your loan repayment plan at any time?
Yes, you can change your federal loan repayment plan at any time. And there’s no limit to how many times you can change your student loan repayment plan.
Can I switch IDR plans?
You can switch IDR plans as long as you qualify for the new plan. In addition to meeting an income cap, you must have eligible types of federal loans. Plus, in the case of the PAYE plan, you must also be a new borrower as of October 1, 2007, and have received a Direct Loan disbursement on or after October 1, 2011.
How do I know which student loan repayment plan is right for me?
To help determine which student loan repayment plan is right for you, you can use the Office of Federal Student Aid’s Loan Simulator tool. The simulator will use your personal information, such as your income, marital status, and dependents, to identify which plans you are eligible for. Then you can use the tool to compare the different plans and see your monthly payment amount on each one, plus your total payments over the life of the loan.
Will changing my repayment plan affect loan forgiveness eligibility?
It might, depending on the repayment plan you are changing to. Not all repayment plans qualify for all types of forgiveness. For example, with Public Service Loan Forgiveness, only payments made on an income-driven repayment plan or the Standard Repayment Plan count toward forgiveness. Before changing your plan, check the Federal Student Aid website to make sure that you will still be eligible for the type of forgiveness you’re working toward.
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