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Federal Student Loans

If you are like millions of Florida students, you took out Federal student loans to help pay for your education. Chances are, you thought you’d graduate and get a job that allowed you to pay off your loans, so you didn’t worry about it. Then the bills started arriving.

Now, not only are your finances tight, but because you’re making the default payments, there’s nothing left for the down payment on a mortgage or a car. Thankfully, there are options that can help you handle overwhelming student loan debt. At Castigliuolo Law, P.A., we can analyze your case and show you which alternatives can help you the most.

Federal Student Loan Repayment Plans

Your first student loan payment is due six months from when you leave school, whether you graduate or leave your program. If you do not talk with your student loan servicer at least 45 days before the first payment was due, you were placed on the standard repayment plan. It takes the sum of your student loans and interest, then divides it into 120 installments (10 years). For example, your payments will be about $515 a month if your loans are $60,000, depending on interest rates. 

If you are unemployed, underemployed or who have significant other debt, such as medical bills, this type of payment is very often too much for you to pay.

Repayment Plans

We can get you moved to one of the repayment plans that could reduce your monthly payments, giving you some much needed breathing room. Student loan repayment options include:

  • Extended Repayment Plan
  • Graduated Repayment Plan
  • Income-Contingent Repayment Plan (ICR)
  • Income-Based Repayment Plan (IBR)
  • Income-Sensitive Repayment Plan
  • Pay as You Earn Repayment Plan (PAYE)
  • Revised Pay as You Earn Repayment Plan (REPAYE)

The plan that’s right for you depends on your unique circumstances. Contact us today and take back control of your finances.

Some of repayment plans increase payments gradually, regardless of the future, while others allow for a payment that adjusts as your income adjusts. For individuals on these plans, income is re-verified and evaluated each year. At Costagliuolo Law, we can help you understand the long-term implications and immediate impact of each plan and how it affects your goals. Once we work through your options and decide which plan works best for you, the documentation can be completed and filed as needed.


You may have taken out multiple loans, each with a different interest rate, which means you may be making multiple monthly payments. A direct consolidation loan combines all of your federal educational loans into one payment, instead of several. Benefits include:

  • Simplifying your monthly payment requirements
  • Switching from variable rate to fixed rate interest
  • Allowing you to qualify for repayment plans and forgiveness programs
  • Giving you a longer time to repay your debt

There are 20 different types of student loans that can be consolidated, including Direct PLUS loans, nursing student loans and parent loans for undergraduate students.


If you have defaulted on your federal student loans, you have one opportunity to get back on track through rehabilitation. The process is similar to working with a collection agency. We can work with the servicer and negotiate on your behalf. Once rehabbed, we can consolidate your loans if needed and get you into a repayment plan that can relieve some of the financial pressure you are experiencing and allow you to take back control of your finances.

Although bankruptcy doesn’t automatically include student loan defaults, there are certain circumstances in which you can get student loans discharged (wiped out). We can help you determine if Chapter 7 bankruptcy can help you reclaim financial stability.

Contact Us Today

Student loan law is a specialized niche, with complex requirements. We have the training and experience to help you get back on track, so call us today! 

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