Previously, we mentioned how FedLoan provides Income-Driven Repayment plans and how they connect with a borrower’s family size and discretionary income. Well, to get the IBR plan, you need to apply annually through the IDR application. When you do that, it’s called recertification. Every year, you have to recertify your family size, income, and marital status. You’re basically telling FedLoan student loan what you earned the previous year, an addition to the family, whether you are still married, divorced, or single. When you enroll in the IDR plan, it’s mandatory for FedLoan servicing to remind you that you need to recertify before the year ends. If you don’t comply, they have the authority to change your IDR repayment plan to a Standard Repayment plan.
More info: https://www.forgetstudentloan.com/fedloan-student-loan/