There are several mechanisms to maintain your current federal student loans, this includes:

Consolidation of federal student loan – the main idea behind consolidation is to reduce student loan interest rates and extend the term at all your student loans. Because prices are low, consolidating can easily reduce your monthly payments. In addition, since a student loan consolidation for longer term that the original student loans, monthly payments go down’s. Net effect is that your loan more affordable and you are more likely to make payments on time.

Student loans delay – in certain circumstances you may defer payments on student loans. Common reasons for delays include continuing education, medical practice or residence, or economic hardship. There are also “public service” deferments that delay payment of your needs while you serve in the armed forces and other capacities.

Patience – patience is the delayed payment of loan principal. The Borrower shall pay interest, but may postpone principal payments. This will reduce monthly payments, but extend the loan repayment period. Forbearance can be requested when you do a medical internship / residency, if you have a student loan a very high ratio-to-earnings, or in other situations to choose from.

Loan forgiveness or cancellation – of certain federal student loans can be forgiven for a certain service type is the most common qualification for teachers in underserved areas or subjects.

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