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Federal Student Loan Debt Repayment

As of October 2023, repayment resumed for Federal Loans. 

Here are three steps to make sure you’re prepared for payments and support from IonTuition:

  1. Update your contact information in your profile on your loan servicer’s website and in your profile.
  2. Check out Loan Simulator to find a repayment plan that meets your needs and goals or to decide whether to consolidate.
  3. Consider applying for an income-driven repayment (IDR) plan. An IDR plan can make your payments more affordable, depending on your income and family size. This summer, the new Saving on Valuable Education (SAVE) plan will be implemented, which is the most affordable repayment plan ever. Borrowers signed up for the current REPAYE plan will be automatically enrolled in SAVE. 
  4. Sign up for IonTuition and get assistance on your best options for repayment

For the latest information regarding repayment, please visit the Federal Student Aid website. 


IonTuition, on behalf of Fisher College, will help you manage your student loan repayment options. IonTuition’s student loan counselors can help with questions you may have about your student loan repayment options. On behalf of Fisher College, these services are provided at no cost to all of Fisher College’s current and former students. 

Register with if you would like to manage your student loans online. IonTuition will provide you fast and easy access to view all of your Federal Direct loan(s) and review repayment scenarios, develop your own personal budget and keep track of your loan servicers. 

Call an IonTuition Counselor at the following toll-free number: 866-296-7955 

Our business hours are

Monday - Thursday 8:00 AM - 8:00 PM CST  
Friday 8:00 AM - 5:00 PM CST 


Students and parents who have borrowed a federal, state, or supplemental loan are required to repay the amount of funds borrowed, with interest according to the terms of the promissory note that was signed. The loan repayment period is usually 10 years.
For student loans, students who have been withdrawn or have completed their requirements will enter their grace period. When the allotted grace period has ended, the student will begin repayment on a monthly basis on the loans borrowed.

For Federal Direct Loans, repayment begins six months after the student graduates, withdraws, or stops attending school at least half time. For Federal Perkins Loans, there is a nine month grace period. However, there are numerous options such as loan consolidation, deferment, and forbearance that can extend the repayment period, depending upon your circumstances.

For Federal PLUS loans, repayment of interest and principal begins 60 days after the loan is fully disbursed. An option for in-school forbearance is available for up to 60 months. The loan repayment term extends up to 10 years.

Standard Repayment 

In this repayment method, equal monthly payments of principal and interest are made over the loan repayment term (usually 10 years). You'll pay the least amount of total interest using this payment plan.

Income-based Repayment

In this plan, monthly payment amounts are calculated as a percentage of monthly gross income. As your income may change, you must reapply for this plan every year.

Graduated Repayment

This repayment method payment allows you to make reduced payments in the earlier years of your loan repayment term, with a gradual increase in payment amount over time.

Extended Repayment

If the total balance of your Federal Direct, PLUS, or Consolidation loans is above $30,000, you may apply for an extension on your repayment term (up to 25 years).


You may pay all or part of your loan balance during the term of the loan without penalty. This will greatly reduce the total interest paid on your loans.

Borrowers Responsibilities

Once you have signed a promissory note for a loan, you are subject to all of the terms and conditions. If eligible, you will be awarded loans as part of your financial aid package. It is your responsibility to notify the Financial Aid Office in writing if you do not wish to accept the loans offered. Repayment on loans is required regardless of your being notified of your debt. It is a student's responsibility to know when repayment is due.