As a borrower you have a choice of several repayment plans that are designed to meet your needs.
WMFA is here to help you choose the best option based on your budget.
The amount you pay and the length of time to repay your loans will vary depending on the repayment plan you choose.
Making your payments more affordable you will have more time to repay your loans.
Eligible Loans
The following loans from the William D. Ford Federal Direct Loan (Direct Loan) Program and the Federal Family Education Loan (FFEL) Program are eligible for Income Based Repayment Plan:
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Direct Subsidized Loans
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Direct Unsubsidized Loans
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Direct PLUS Loans made to graduate or professional students
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Direct Consolidation Loans without underlying PLUS loans made to parents
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Subsidized Federal Stafford Loans
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Unsubsidized Federal Stafford Loans
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FFEL PLUS Loans made to graduate or professional students
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FFEL Consolidation Loans without underlying PLUS loans made to parents
Do you have over $10,000 in federal student debt?
Don’t get discouraged if you are in default on your federal student loan.
Options for getting out of default include loan repayment, loan rehabilitation, and loan consolidation.
See if you qualify!
What We Can Do For You
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Get out of Default
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Stop Wage Garnishment
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Prevent Tax Liens
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Reduce Student Loan Payments!
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Restore your eligibility for Financial Aid
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Stop Harassing phone calls from Bill Collectors
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Stop threatening letters from Collections Agencies
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Improve your Credit Score
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Prevent Litigation and Judgment Costs
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Restore Forbearances & Deferment