Frequently Asked Questions

Q: Why is Student Services trying to contact me?

A: Student Services is a default prevention company, that has been hired by your former school to contact students to provide assistance with their federal student loan repayment/postponement options. 

Q: Is Student Services a collection company? 

A: Student Services provides its services at ABSOLUTELY NO COST to you as the student. 

Q: My student loan is past due, but I can't afford payments right now, what can I do?

A: Please Contact our office today at 1(800) 257-4757, and one of our trusted default prevention advisors will be able to assist you through the process of determining which repayment/postponement option would be best for you. 

Q: I am currently inschool more then half-time, what are my options?

A: Please Contact our office today at 1(800) 257-4757, and our advisors will be able to assist you with getting into contact with your loan servicer to update them on your current enrollment status. You may also refer to the FORMS section of this site to download and print a inschool deferment form. 

Q: What does it mean to default on my student loans?

A: Default occurs when there is a  failure to repay a loan according to the terms agreed to. After 270 days past due your account is considered to be in default.   

Q: What if I am able to start making my payments but can not afford my past due amount? 

A: You can request a forbearance be applied to help you bring your past due amount current, you will then be able to resume      just making your regular current monthly payments.

 * You have options available to you in order to prevent your account from defaulting,                                                                          please Call us today at 1(800) 257-4757, our advisors will be able to assist you with these options. 

deferment

 Is a benefit of federal student loans that allows you to temporarily stop making payments. You're not generally charged interest on subsidized loans during deferment. Interest will continue to be charged on your unsubsidized loans and PLUS loans.

forbearance

 Is a benefit of federal student loans that allows you to temporarily stop making payments or reduce your federal student loans' monthly payment. Interest will continue to be charged on your subsidized, unsubsidized and PLUS loans. 

REPAYMENT PLAN OPTIONS

  • Income-Based Repayment (IBR) Plan- A repayment plan with monthly payments that are generally equal to 15% (10% if you are a new borrower) of your discretionary income, divided by 12.
  • Income-Contingent Repayment Plan- A repayment plan with monthly payments that are the lesser of (1) what you would pay on a repayment plan with a fixed monthly payment over 12 years, adjusted based on your income or (2) 20% of your discretionary income divided by 12.
  • Pay As You Earn plan- A repayment plan with monthly payments that are generally equal to 10% of your discretionary income, divided by 12.
  • Revised Pay As You Earn plan- A repayment plan with monthly payments that are generally equal to 10% of your discretionary income, divided by 12.