Reasonable and Affordable Repayment Plan

If you can't afford the regular monthly payment on your defaulted student loan, you may be eligible for a temporary lower monthly payment. HESC will consider your financial situation when you ask for a reduced payment.

You can’t be required to pay more than what is considered "reasonable and affordable," based on a comparison of your total household income and allowable expenses for families of the same size along with your student loan debt. Reducing your payment will probably mean your loan will take longer to pay back. Also, interest will continue to accrue on your balance, and you will owe more.

Most borrowers with a defaulted student loan can be considered for Reasonable and Affordable Repayment. If you’re having trouble with repayment or are in default on your student loan, HESC will work with you to assess your situation and help you enter a satisfactory repayment agreement.

For details, call 1-866-991-HESC (4372).