What You Need to Know About Student Loan Repayment
October 9, 2023

What You Need to Know About Student Loan Repayment

The end of the U.S. Department of Education’s COVID-19 relief for student loans is on the horizon, and for many borrowers, it’s time to prepare for the resumption of payments and interest.

This blog will guide you through the necessary steps to ensure a smooth transition back into the world of student loan repayment. Additionally, we’ll explore how McCarthy Law can be a valuable resource for those burdened by significant private student loan debt, especially if it exceeds $20,000.

Preparing for Student Loan Repayment: A Step-by-Step Guide

As the U.S. Department of Education’s COVID-19 relief for student loans comes to an end, it’s vital to be proactive and ready for the return of payments and interest on your student loans. Here’s a breakdown of the essential steps you should take:

Update Contact Info

Ensure your contact details are current with your loan servicer to receive important loan notifications.

Explore Repayment Plans

Explore various repayment options, like Income-Driven, Standard, or Graduated plans, to find one that suits your financial situation.

Recertify Income-Driven Plans

Consider early recertification for income-driven plans to ensure accurate monthly payments.

Enroll in Auto Pay

Enroll in auto payments for on-time payments and to avoid late fees.

Check Monthly Payment

Expect loan servicer notification in September or October with your upcoming monthly payment amount and due date.

Explore Forgiveness

Investigate eligibility for loan forgiveness or discharge based on your profession, income, or other criteria.

Taking these proactive steps can help ease the transition back into student loan repayment and minimize the financial stress that often accompanies it. Being well-prepared ensures that you’re in control of your student loan journey as payments and interest rates resume.

How McCarthy Law Can Help You Get Out of Debt if You Have Over $20,000 in Private Student Loans

If you find yourself facing the daunting challenge of managing over $20,000 in private student loan debt, McCarthy Law may be your beacon of hope. We work with individuals burdened by significant debt, offering knowledgeable guidance and solutions that help them pay off their debt quickly and reduce the total amount they owe.

Debt Evaluation

McCarthy Law starts by thoroughly evaluating your financial situation, including your income, expenses, and outstanding debts. This assessment helps create a tailored plan for tackling your private student loan debt.


Our team of experienced negotiators negotiate with your creditors to explore debt settlement options, reducing the overall amount you owe. This can be a game-changer for those grappling with hefty private student loan balances.

Legal Support

If necessary, McCarthy Law can provide legal support to protect your rights as a borrower and ensure fair treatment from creditors. Our legal experience can be invaluable when dealing with complex debt issues.

Financial Rehabilitation

Beyond debt reduction, McCarthy Law focuses on helping you rebuild your financial health. We’re with you every step of the way, providing guidance on payments and support to answer any questions you have about your plan.


As the U.S. Department of Education’s COVID-19 relief for student loans draws to a close, being well-prepared for the resumption of payments is crucial. However, for those with over $20,000 in private student loan debt, the road to financial freedom may seem daunting. McCarthy Law is here to help, offering guidance, negotiation skills, and legal support to assist individuals effectively manage and reduce their private student loan debt.

If you’re feeling overwhelmed by your student loan burden, don’t hesitate. Contact us today to explore how McCarthy Law can help you regain control of your financial future.

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