Loan Repayment Strategies

On March 26, 2025, after a temporary pause, the U.S. Department of Education once again made the online application form available for eligible borrowers to apply for the Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Income-Contingent Repayment (ICR) plans for federal loan repayment. The online loan consolidation application also was reposted. The Saving on a Valuable Education (SAVE) plan remains on hold, and borrowers enrolled in SAVE are in a general forbearance unless otherwise notified. For more information on the available income-driven plans and the implications of the SAVE forbearance, see the announcement and FAQs on the Federal Student Aid website.

The AVMA is engaging with lawmakers in Washington and working with student debt experts to prepare materials to help veterinary students and veterinarians navigate the evolving federal student loan landscape. Meanwhile, borrowers who are already enrolled in income-driven plans, including those pursuing Public Service Loan Forgiveness (PSLF), are advised to document and retain all information related to their student loans, including repayment history.