How to Prepare for Successful Student Loan Repayment

Student Loan Repayment Guide


The pause on student loan payments that began during COVID-19 has come to an end, and payments have resumed.  Here are some helpful tips for you to manage your loans.


Should I pay my student loans?

Yes, interest is accruing.

What are the penalties if I do not pay my loan?

We are in a temporary grace period through September 30. This ramp up period helps borrowers avoid the harshest penalties of missed or partial payments such as harming borrowers’ credit, wage garnishments and loan default. 

It is important to get your loans on track before the end of this period as the penalties will be turned back on.

How do I find out what my interest rate will be after the 0% interest rate ends?

For many borrowers, your interest rate will be the same as it was before the 0% interest began.

But some borrowers will find their interest rate has changed. For example, your interest may have changed if you consolidated your loans during the payment pause.

Contact your loan servicer for your exact interest rate. You may also be able to log in to your loan servicer’s website to find this information.

Isn't my loan with MTTI?

No, MTTI doesn’t service or manage any loans. Your student loan is a federal student loan offered by the U.S. Department of Education (ED).  You can visit to find out who the servicer of your loan is that will be collecting your payments. MTTI has no access or ability to get this information for you, as it is your personal account. 

Prior to the pause I was set up for automatic payments, will this resume?

No, if you were previously signed up for automatic payments before the pause you must reauthorize this through your loan servicer.

How do I know which repayment plan I am in?

If you don’t remember which plan you’re in, you can ­find it on or on loan servicer’s portal.

What if I cannot afford my payments?

There are options for income driven repayment plans (IDR). An IDR plan customizes your monthly payment to your income. You will never pay more than 10–20% of your income.  You can review your payment plan options here Loan Simulator | Federal Student Aid

What is the SAVE plan?

The SAVE (Savings on a Valuable Education) plan was just recently announced as the most affordable payment plan ever created. This will be an income driven plan.  Borrowers will be able to enroll on this plan late Summer 2023.  You can learn more about the plan here.  Apply for or Manage Your Income-Driven Repayment Plan | Federal Student Aid

What if I already have loans in default?

Fresh Start is a one-time temporary program from the U.S. Department of Education. Borrowers with loans in default should consider applying for this program.  According to Student Half of borrowers on Fresh Start are paying $0 a month, and 60% of Fresh Start borrowers are paying less than $50 a month.  A Fresh Start for Federal Student Loan Borrowers in Default | Federal Student Aid


If you need to reach out to your servicer with questions, please don’t delay! Servicers are estimated to be short staffed for the volume of calls expected with student loan payments resuming. Long hold times are expected to increase in the coming weeks, beat the rush and call your servicer soon with any questions! 

Navigating Loan Repayment


step 1


Use your FSA ID to log in to Your FSA ID (the same you used to complete your FAFSA) will include a username and password. Once logged in, update your personal information (including your current address to ensure you receive your mailed statements and notices) and confirm your student loan servicer.

step 2


Confirm your student loan servicer. Your servicer may vary depending on the type of loan you have. Your servicer may have changed since your last payment so don’t assume it’s still the same servicer unless you’ve received a new statement from them. If you don’t know who your servicer is, log on to and visit the “My Loan Servicers” section of your dashboard.



Log in to your loan servicer account and update your contact information. Create an account or log in to an existing one via the servicer’s website. Review and update your personal contact information, including your email and mailing address, so your servicer can reach you.


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.



Review payment due date and amount. Make note of your monthly payment amount and the date your first payment will be due, and update any changed banking information to ensure you either proactively make a payment by the deadline or are prepared for the funds to be drawn down by auto debit.

Loan Repayment


Don’t accept unexpected offers of financial aid or help (such as a “pandemic grant” or “Biden loan forgiveness”). Click below to learn how to avoid scams.


MTTI is always here to help our Alumni however we can. As mentioned we do not have access to your login information and do not control repayment options, but we can guide you in the right direction for these answers. Send us a message and we'll reach out to you within 24 hours...

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