Loan Repayment Information and Updates
Important Federal Student Loan Updates
The U.S. Department of Education (ED) is taking urgent action to address major challenges in the federal student loan program. To help borrowers stay on track and meet their obligations, ED has announced several initiatives:
- Resumption of Collections: As of April 21, 2025, the Treasury Offset Program has restarted, and Administrative Wage Garnishment will resume later this summer.
- Borrower Outreach Campaign: A national effort is underway to remind borrowers of their repayment responsibilities and provide guidance on choosing the right repayment plan.
- Enhanced IDR Process: The income-driven repayment (IDR) plan system has been simplified—most borrowers no longer need to manually recertify income yearly.
How To Prepare For Successful Student Loan Repayment
- Use your FSA ID to log in to your Federal Student Loan Account
- Once logged in, confirm your personal and contact information
- Confirm your student loan servicer at studentaid.gov and visit the “My Loan Servicers” section of your dashboard
- Log in to your loan servicer account and review and update your personal contact information.Reauthorize or select auto debit for monthly payments. If you were previously signed up for automatic debit before the payment pause began, you must reauthorize or select automatic debit through your loan servicer account. This will allow your loan payments to be automatically withdrawn from your bank account every month.
Mizzou Is Here To Help
We’re committed to helping you navigate the repayment process and stay informed. If you have questions or need assistance, please reach out to:
Email: mizzousfa@missouri.edu
Hours: Monday-Friday 8:00 AM – 5:00 PM