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Are Student Loans Forgiven After 20 Years? Here’s What to Know and Forgiveness Options

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If you have federal student loans, you have one major benefit that you can take advantage of and that’s student loan forgiveness. You might wonder, “Are student loans forgiven after 20 years?”. The answer? It depends. There are some student loan forgiveness options available after 20 years, whereas others can take a longer or shorter amount of time. Read on to learn more about student loan forgiveness after 20 years as well as other options.

Table of Contents hide
1. Are student loans actually forgiven after 20 years?
2. What are the 20-year student loan forgiveness options?
3. What are the options and requirements for 10-year forgiveness through PSLF?
4. 10 vs 20 year student loan forgiveness
5. Which one is better?
6. Bottom line

Are student loans actually forgiven after 20 years?

Student loans may be forgiven after 20 years if you meet a few requirements. If you’re looking for 20-year student loan forgiveness, then you’ll want to opt for an income-driven repayment plan (IDR).

What are the 20-year student loan forgiveness options?

The following income-driven repayment plans offer student loan forgiveness after 20 years:

  • Revised Pay As You Earn (REPAYE) Plan — if loans are from obtaining an undergraduate degree
  • Pay As You Earn (PAYE) Plan
  • Income-Based Repayment Plan (IBR)— if you’re a recent borrower (after July 1, 2014)

Under an IDR plan, your monthly student loan payments are capped at a small percentage of your discretionary income, typically 10%. That way, your monthly payment is affordable and generally lower than the 10-year Standard Repayment plan.

These IDR plans have a longer loan repayment term — in fact, double that of Public Service Loan Forgiveness (PSLF). You must recertify each year to stay on track. To do so, fill out the Income-Driven Repayment Plan Request Form.

These plans don’t have any career requirements, so you can work in any job to take advantage of this loan repayment assistance.

Nearly all federal student loan borrowers are eligible for one of these options. After making payments for 20 years, you could qualify for student loan forgiveness.

Just to make a note, there is one other income-driven repayment plan offering, which is Income-Contingent Repayment (ICR), but that has a repayment term of 25 years, not 20 years.

Additionally, Parent PLUS loans are typically excluded from student loan forgiveness options. However, if Parent PLUS loan borrowers consolidate with a Direct Consolidation Loan they may be eligible for student loan forgiveness, only under the ICR Plan.

What are the options and requirements for 10-year forgiveness through PSLF?

If you don’t want to wait 20 years for student loan forgiveness and want the shortest route to getting your loans gone, you’ll want 10-year student loan forgiveness.

The only option for this is through the Public Service Loan Forgiveness (PSLF) program, which is available to nonprofit and certain government workers. To be eligible for this 10-year student loan forgiveness program, you must be on an IDR plan and make regular monthly payments.

After making 120 monthly payments, you can apply for student loan forgiveness. Under PSLF, the remaining loan balance is forgiven and isn’t considered taxable income by Uncle Sam.

10 vs 20 year student loan forgiveness

If you have federal loans and want student loan forgiveness, you want to evaluate your options.

Under the 10-year student loan forgiveness option, PSLF, you must be on an IDR plan. You’re also on an IDR plan with the 20-year student loan forgiveness option. Both keep your monthly payment amount at a minimum but one requires full-time work with a qualifying employer.

If you decide to not do 10-year student loan forgiveness because you don’t want to work in public service or you want to change careers, all is not lost. If you’re ineligible for PSLF in the long run, you still have options.

You can stay on an IDR plan and get student loan forgiveness after 20 years.

Which one is better?

From a time perspective, 10-year student loan forgiveness is a good option because you’re making payments for a shorter amount of time. That briefer time frame means paying less in interest overall. On top of that, you don’t have to pay taxes on the forgiven amount.

However, there are career requirements that are pretty important to consider. Having strings attached to your job is a considerable commitment. You shouldn’t base your job on student loan forgiveness.

If working in public service with a low income will make you miserable, you’re better off getting student loan forgiveness after 20 years with an IDR plan. Bonus – you’ll likely be able to make more money not working in public service, which can make managing student loan debt easier.

On the other hand, if you plan on working in the public sector anyway, going after PSLF makes sense. Even if you change your mind mid-way, you can pursue long-term forgiveness if you stay on an income-driven plan.

Simply stick to IDR, and if there’s still a balance after 20 years, you can get your loans forgiven. Just be sure to save up for taxes so you’re not dealing with a huge financial hardship. We recommend using Betterment, which is an investment brokerage, so you can get the best returns on the money you put away for taxes.

Bottom line

If you want to discharge loans after 20 years and have your student loan repayment be done with, you have options. Just make sure you check out the eligibility requirements for income-driven repayment plans, to find the right option for you.

Whether you opt for 20-year student loan forgiveness under IDR or 10-year forgiveness with PSLF, you have repayment assistance programs to choose from. If you’re experiencing undue hardship but don’t necessarily need student loan forgiveness, you can ask your loan servicer about deferment and forbearance.

Do you need help deciding how you should tackle your student loans? Get in touch with us to create a custom plan just for you.

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VISIT COMMONBOND Variable 2.49-6.84%%1 Fixed 2.59-6.74%1
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VISIT EARNEST Variable 1.88-5.64%2 Fixed 2.48-5.79%2
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VISIT LAUREL ROAD Variable 1.64-5.65%3 Fixed 2.25-5.75%3
$1,275 BONUS4  For 150k+. Tiered 300 to 575 bonus for 50k to 149k.4
VISIT ELFI Variable 2.39-6.01%4 Fixed 2.47-5.99%4
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VISIT SPLASH Variable 1.88-6.15%5 Fixed 2.49-6.31%5
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VISIT SOFI Variable 2.25-6.59%6 Fixed 2.49-6.94%6
$1,250 BONUS7  $350 for 50k to 100k7
VISIT CREDIBLE Variable 1.80-8.90%7 Fixed 2.15-9.15%7
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About Melanie Lockert

Melanie Lockert is the founder of the blog and author of the book, Dear Debt. Through her blog, she chronicled her journey out of $81,000 in student loan debt. Her work has appeared on Business Insider, Time, Huffington Post and more. She is also the co-founder of the Lola Retreat, which helps bold women face their fears, own their dreams and figure out a plan to be in control of their finances.

Reader Interactions

Comments

  2. Chris says

    If you reach the 20 year mark since you’ve taken out federal student loans and some of that time was on one of their income based payment plans and at times they allowed zero monthly payments, does that period stop the clock for the 20 years? Do you have to contact them to have the balance forgiven or will they automatically process the loan forgiveness? Thank you.

    • Travis Hornsby says

      It’s automatically processed since it’s listed in your master NSLDS file, that period counts if it was on an IDR payment plan and not forbearance

  3. Ann says

    How does this work if you consolidated your loan. I Have been paying over 10 years thru a consolidation agency, when I called they said , my loan doesn’t qualify for that? Do i have any options.

  4. Anh Thao Nguyen says

    I did 2 IBR in 2015 on two different student loan one federal and one private. So if I did it after July 2014 it would be 20 years to go away, or what should I do? Currently I’m at $0 Payment because I’m not making much money with 4 kids.

  5. Shannon Gallagher says

    I have a loan that is going to be 24 years old in August. I have made barely a dent in payments of the original loan of $20, 602. Interest is accruing at a ridiculous rate and my loan balance is now $166,462. I have made deferments and forbearances due to having to choose between mine and my child’s medications or school loans. My child is diabetic and I am bipolar. I am willing to pay the original balance and $10,000 interest but to never be able to pay this is affecting my credit drastically. Navient owns my loan currently and the minimum they want is $1244 per month so I am automatically deferred because I can’t even make an income-driven payment of $800 per month per their guidelines. Is there anything I can do to stop the interest adding up on this loan and find a solution to pay it off in a reasonable manner?

    • Amy at Student Loan Planner says

      Your loan balance can grow significantly each time you defer or go into forbearance because of interest capitalization, and it looks like that’s what happened in your case. There’s a great article that explains it here. Instead of referring or asking for forbearance, setting up an income-driven repayment plan can make your monthly payments more affordable. I’d suggest you book a consult to get a plan, especially considering your balance is over $150k. Just click the “Get Help” link at the top of the site.

  6. Greg Lantzounis says

    Does consolidating federal and private student loans disqualify me from having my loans forgiven? I started repayment with Sallie Mae in 2004 and transferred my loans to Citizens Bank in 2017, never missing a payment.

  7. Kathleen Nidek says

    Hello, thanks for your time. I am retired, I just turned 70!! I have a fed loan since 1997. I paid on this loan periodically. As my low income wouldn’t allow me to be consistent. I was either in forbearance or deferment. I’m on SS now, which means paying just my monthly bills is a struggle. Would my student be fogiven at any time??? Since its 25 yrs old?? Thank you.

  8. Mary Ann Morgan says

    I received student loan back in 1991 for a business school.. I am sure I have made payments during the 90’s and have had taxes taken. Have not worked since 2007.. will I qualify for this?

    • Amy at Student Loan Planner says

      There are a few qualifications to meet to qualify for student loan forgiveness. If you owe at least $20k, I recommend booking a consult with us to get a repayment plan for your loans. If you’ve been repaying since 1991, you need to get them taken care of so you can get them off your mind and out of your life.

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Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.  If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.

Student Loan Planner® Disclosures

Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must contact Student Loan Planner® by email at help [at] studentloanplanner.com to claim bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation, will send via email a $500 e-gift card within seven business days following the last day of the month in which the qualifying loan was disbursed and confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of a loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

Lender and Bonus disclosure

Earnest: $1,000 for $100K or more, $200 for $50K to $99.999.99. For Earnest, if you refinance $100,000 or more through this site, $500 of the $1,000 cash bonus is provided directly by Student Loan Planner. Rate range above includes optional 0.25% Auto Pay discount. 

Earnest Bonus Offer Disclosure:

Terms and conditions apply. To qualify for this Earnest Bonus offer: 1) you must not currently be an Earnest client, or have received the bonus in the past, 2) you must submit a completed student loan refinancing application through the designated Student Loan Planner® link; 3) you must provide a valid email address and a valid checking account number during the application process; and 4) your loan must be fully disbursed.

You will receive a $1,000 bonus if you refinance $100,000 or more, or a $200 bonus if you refinance an amount from $50,000 to $99,999.99. For the $1,000 Welcome Bonus offer, $500 will be paid directly by Student Loan Planner® via Giftly. Earnest will automatically transmit $500 to your checking account after the final disbursement. For the $200 Welcome Bonus offer, Earnest will automatically transmit the $200 bonus to your checking account after the final disbursement. There is a limit of one bonus per borrower. This offer is not valid for current Earnest clients who refinance their existing Earnest loans, clients who have previously received a bonus, or with any other bonus offers received from Earnest via this or any other channel. Bonus cannot be issued to residents in KY, MA, or MI.

Interest Rate Disclosure

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.59% APR to 5.79% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.88% APR to 5.64% APR (excludes 0.25% Auto Pay discount). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 36% (the maximum allowable for these loans). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 2.04% and 5.8% to the one month LIBOR. Earnest rate ranges are current as of 6/8/2021, and are subject to change based on market conditions.

Auto Pay Discount Disclosure

You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.

Skip a Payment Disclosure

Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.

Student Loan Refinancing Loan Cost Examples

These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042.39. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,249.77. Your actual repayment terms may vary.Terms and Conditions apply. Visit https://www.earnest. com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.

Student Loan Origination Loan Cost Examples

These examples provide estimates based on the Deferred Repayment option, meaning you make no payments while enrolled in school and during the separation period of 9 billing periods thereafter. Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $157.12) and an 11.69% APR would result in a total estimated payment amount of $21,290.40. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $173.51) and an 13.03% APR would result in a total estimated payment amount of $22,827.79. Your actual repayment terms may vary.

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Student Loan Planner® Bonus Disclosure:

Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must contact Student Loan Planner® by email at help [at] studentloanplanner.com to claim bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation, will send via email a $500 e-gift card within seven business days following the last day of the month in which the qualifying loan was disbursed and confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of a loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

Lender and Bonus disclosure

Laurel Road: If you refinance more than $250,000 through our link and Student Loan Planner receives credit, a $500 cash bonus will be provided directly by Student Loan Planner. If you are a member of a professional association, Laurel Road might offer you the choice of an interest rate discount or the $300, $500, or $750 cash bonus mentioned above. Offers from Laurel Road cannot be combined. Rate range above includes optional 0.25% Auto Pay discount. 

Laurel Road Bonus Offer Disclosure:

Terms and conditions apply. To qualify for this Laurel Road Welcome Bonus offer: 1) you must not currently be an Laurel Road client, or have received the bonus in the past, 2) you must submit a completed student loan refinancing application through the designated Student Loan Planner® link; 3) you must provide a valid email address and a valid checking account number during the application process; and 4) your loan must be fully disbursed. If a borrower is eligible for and chooses to accept an interest rate promotional offer due to that borrower’s membership in a professional association, the borrower will not be eligible for the cash bonus from Laurel Road. However, the borrower can still be eligible for the Student Loan Planner® bonus if they qualify under the “Student Loan Planner® Bonus Disclosure terms below.”  If you opt to receive the cash bonus incentive offer, you will receive a $1,050 bonus if you refinance $100,000 or more, or a $300 bonus if you refinance an amount from $50,000 to $99,999.99. For the $1,050 Welcome Bonus offer, $500 will be paid directly by Student Loan Planner® via Giftly. Laurel Road will automatically transmit $550 to your checking account after the final disbursement. For the $300 Welcome Bonus offer, Laurel Road will automatically transmit the $300 bonus to your checking account after the final disbursement.  There is a limit of one bonus per borrower. This offer is not valid for current Laurel Road clients who refinance their existing Laurel Road loans, clients who have previously received a bonus, or with any other bonus offers received from Laurel Road via this or any other channel.

You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay

Student Loan Planner® Bonus Disclosure

Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must contact Student Loan Planner® by email at help [at] studentloanplanner.com to claim bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation, will send via email a $500 e-gift card within seven business days following the last day of the month in which the qualifying loan was disbursed and confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of a loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

Lender and Bonus disclosure

Elfi: If you refinance over $150,000 through this site, $500 of the cash bonus listed above is provided directly by Student Loan Planner. 

To begin the qualification process for the Student Loan Planner® sign on bonus, customers must apply from the link provided on https://www.elfi.com/student-loan-planner. Customers who are approved for and close a loan will receive the $300-$775 bonus through a reduction in the principal balance of their Education Loan Finance loan when your loan has been disbursed. The amount of the bonus will depend on the total loan amount disbursed. In order to receive this bonus, customers will be required to complete and submit a W9 form with all required documents. Taxes are the sole responsibility of the recipient. There is a limit of one bonus per borrower. This offer is not valid for current ELFI customers who refinance their existing ELFI loans, customers who have previously received a bonus, or with any other bonus offers received from ELFI via this or any other channel. If the applicant was referred using the referral bonus, they will not receive the bonus provided via the referring party. If the applicant becomes an ELFI customer, they may participate in the referral bonus by becoming the referring party. Additional terms and conditions apply.

For the $1,275 bonus associated with refinancing at least $150,000, $500 of the bonus is provided by Student Loan Planner® via Giftly, which can be redeemed as a deposit to your bank account or PayPal account. Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must contact Student Loan Planner® by email at help [at] studentloanplanner.com to claim bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation, will send via email a $500 e-gift card within seven business days following the last day of the month in which the qualifying loan was disbursed and confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of a loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

Lender and Bonus disclosure

Splash: If you refinance over $100,000 through this site, $500 of the cash bonus listed above is provided directly by Student Loan Planner. 

To begin the qualification process for the Student Loan Planner® sign on bonus, customers must apply from the link provided. Customers who are approved for and close a loan will receive the $300-$500 bonus through Splash Financial. The amount of the bonus will depend on the total loan amount disbursed. There is a limit of one bonus per borrower. This offer is not valid for current Splash customers who refinance their existing Splash loans, customers who have previously received a bonus, or with any other bonus offers received from Splash via this or any other channel. If the applicant was referred using the referral bonus, they will not receive the bonus provided via the referring party. Additional terms and conditions apply.

For the $1,000 bonus associated with refinancing at least $100,000, $500 of the bonus is provided by Student Loan Planner® via Giftly, which can be redeemed as a deposit to your bank account or PayPal account. Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must contact Student Loan Planner® by email at help [at] studentloanplanner.com to claim bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation, will send via email a $500 e-gift card within seven business days following the last day of the month in which the qualifying loan was disbursed and confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of a loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

Lender and Bonus disclosure

Sofi: If you refinance $100,000 or more through this site, $500 of the $1,000 cash bonus is provided directly by Student Loan Planner. Rate Fixed rates from 2.74% APR to 6.74% APR (with autopay). Variable rates from 2.25% APR to 6.39% APR (with autopay). All variable rates are based on the 1-month LIBOR and may increase after consummation if LIBOR increases; see more at SoFi.com/legal/#1. If approved for a loan your rate will depend on a variety of factors such as your credit profile, your application and your selected loan terms. Your rate will be within the ranges of rates listed above. Lowest rates reserved for the most creditworthy borrowers. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). Additional terms and conditions apply; see SoFi.com/eligibility for details. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Rate Match Guarantee Disclosure

Get $100 when you fund a Student Loan Refinance offered by SoFi Lending Corp. or an affiliate. $100 bonus not available to residents of OH. Rate Match valid only for private student loan refi products & will be on the rate, exclusive of all discounts. Eligible documentation of a competitor’s current rate offer, issued within 30 days of your SoFi pre-qualified rate, will be determined at SoFi’s sole discretion and must be for the same loan amount and repayment terms. Lowest rates reserved for the most creditworthy borrowers. Void where prohibited by state law. See full terms & conditions at sofi.com/refinance-student-loan/#guaranteed-rate-match. SoFi reserves the right to modify or discontinue at any time without notice. Additional terms & conditions apply; see SoFi.com/eligibility. CFL#6054612, NMLS#1121636 (nmlsconsumeraccess.org)

Student Loan Planner® Bonus Disclosure

For which may be offered in the future directly by Student Loan Planner®, our company will send you bonuses via Giftly, which can also be redeemed as a deposit to your bank account or PayPal account. Upon disbursement of a qualifying loan, Student Loan Planner® will send via email a gift card within 7 business days of the last day of the month in which the qualifying loan was disbursed.

For Student Loan Planner® to send the gift card, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as student loan refinancing companies do not share the names of borrower applicants. A borrower may contact Student Loan Planner® to redeem a gift card under this program via email only, via help AT studentloanplanner DOT com, or any other studentloanplanner DOT com email that the borrower may be aware of. If a borrower does not claim a gift card within 6 months of a loan disbursement, the borrower forfeits their right to claim said gift card.

The amount of the bonus will depend on the total loan amount disbursed. A customer will only be eligible to receive the bonus one time.range above includes optional 0.25% Auto Pay discount.

Lender and Bonus disclosure

Credible: If you refinance over $100,000 through this site, $500 of the cash bonus listed above is provided directly by Student Loan Planner. 

To begin the qualification process for the Student Loan Planner® sign on bonus, customers must apply from the link provided on www.credible.com.

The amount of the bonus will depend on the total loan amount disbursed. In order to receive this bonus, customers will be required to complete and submit a W9 form with all required documents. Taxes are the sole responsibility of the recipient. A customer will only be eligible to receive the bonus one time. New applicants are eligible for only one bonus. Additional terms and conditions apply.

For the $1,250 bonus associated with refinancing at least $100,000, $500 of the bonus is provided by Student Loan Planner® via Giftly, which can be redeemed as a deposit to your bank account or PayPal account. Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must contact Student Loan Planner® by email at help [at] studentloanplanner.com to claim bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation, will send via email a $500 e-gift card within seven business days following the last day of the month in which the qualifying loan was disbursed and confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of a loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

Student Loan Planner must be credited for a qualifying loan by Credible for the customer to receive the Student Loan Planner® bonus. If a customer contacts Student Loan Planner® after a loan disburses instead of before, we have no way of guaranteeing a loan being credited properly. Customers are encouraged to contact Student Loan Planner® before a loan disburses to aid in the verification of this bonus program.

Lender and Bonus disclosure

LendKey: If you refinance over $150,000 through this site, $500 of the cash bonus listed above is provided directly by Student Loan Planner. Rate range above includes optional 0.25% Auto Pay discount.