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Switching Payment Plans and Recalculating Minimum Payment

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Total Posts: 3

Joined 2016-12-28

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Does anyone know how often a borrower is allowed to switch payment plans?

Or whether a loan servicer would be willing recalculate my minimum payment without switching my payment plan?  If so, how often will they do this?

For example, say I am on the standard extended (non-IBR) 25-year plan.

Can I pay off a chunk of the principal and then ask the loan servicer to recalculate my minimum payment?