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Repayment Plans

MOHELA offers three Repayment Plans to lower your monthly payment amount if your account is not in default (under 120 days past due) and you are experiencing an unplanned hardship or experience a change in income. Additional eligibility criteria and requirements may apply. A completed request form and supporting documentation of proof of hardship are required. To determine if you qualify, please call us at 844.925.6269.


Temporary Reduced Payment Plan

Allows you to pay the higher amount of either 50% of your current principal and interest installment amount or your thirty (30) day interest accrual amount as of the date your request is processed. Placed in six (6) month increments for up to twelve (12) months over the life of the loan. This plan does not extend your maturity date*.


Temporary Income-based Repayment Plan

Allows you to pay either 10% of your gross monthly income or your thirty (30) day interest accrual amount as of the date your request is processed, whichever is higher. Placed in six (6) month increments for up to twelve (12) months over the life of the loan. This plan does not extend your maturity date*.


Extended Repayment Plan

Adds twelve (12) months to the number of remaining months of your current repayment schedule as of the date your request is processed. Your repayment schedule will be re-amortized over the extended number of months for a lower level monthly payment amount. This repayment plan can only be used once over the life of the loan.

* maturity date is the estimated anticipated date at which your loan(s) will be paid off based on the remaining number of months in your current repayment schedule.


Important Information

  • Requests to change to one of these repayment plans may be approved at the discretion of your loan holder. An approval or denial notification will be provided.

  • Supporting documentation showing proof of unplanned financial hardship must be submitted for all above repayment plans.

  • Signature date must be within sixty (60) days of the date the request form is received.

  • Supporting documentation must be dated within the last sixty (60) days of the signature date on the application.