If you want to change your student loan repayment plan, here are the steps you'll need to take: Research your options: Carefully read the details of each repayment plan so you understand the impact on your student loans. You can use the federal loan simulator tool to compare your loan costs under each plan.

The next president could have significant sway over what happens next with student loans programs. The future of student loan forgiveness and repayment programs could hinge on whoever wins the presidency this November.

A student loan forgiveness option closed early Wednesday and federal loan borrowers will no longer be able to sign up for the Fresh Start program.