INDIANAPOLIS (WISH) — A recent college graduate who now works in the nonprofit space on Monday said student loan borrowers have plenty of help available if they know where to look.

Hale Crumley will be among recent college grads who will make their first student loan payments when payments resume Oct. 1. They were paused for more than three years in response to the COVID-19 pandemic, and interest did not accrue on them until the beginning of this month.

Crumley said she was able to cut her payments by about $100 per month after she applied and got approved for the SAVE Plan through the federal student aid website.

“For me, it was a huge load off my back,” she said. “It means that I can keep using my workplace retirement plan. It also means that I’m not quite as stressed when I see those high grocery bills.”

Bill Wozniak, the vice president of communications and student services for INvestED, Indiana’s state-affiliated nonprofit student loan authority, said more than 900,000 Hoosiers owe some kind of federal student loan debt. He said borrowers have flooded INvestED’s customer support lines asking for help. He said student loan borrowers should review their aid options carefully to figure out what works best for them.

The Department of Education has imposed a policy known as the on-ramp for payments made between now and Sept. 30, 2024. If a borrower misses a payment during that time, they won’t be reported as delinquent to the credit rating agencies. Wozniak said borrowers should still do everything they can to make a payment. Both he and Crumley said they recommend applying for the SAVE Plan.

According to the U.S. Department of Education, there is no income requirement for the SAVE Plan and the plan is available to all direct loan borrowers with eligible loan types, regardless of when they took out the loan. In addition, the federal Fresh Start program is available for borrowers who defaulted. Wozniak said borrowers should not apply for that program unless they already defaulted.

Wozniak said student loan borrowers should contact their loan servicer as well, as many servicers have changed since 2020. Crumley said that happened to her when her loan was transferred to another servicer. She said it’s also a good idea to check if the card you had connected to your account has expired.

The federal Fresh Start program is available for borrowers who defaulted. Wozniak said borrowers should not apply for that program unless they already defaulted.

Crumley, who now coordinates nonprofits specializing in financial assistance, said borrowers should think beyond their loans if they’re trying to make ends meet. She said it might be a good idea to look into housing or utility assistance programs if money is tight. Examples include HomesteadCS in Lafayette and the Northwest Indiana Reinvestment Alliance in Hammond. Crumley said university-based financial services programs such as IU’s are a good option as well.

Wozniak said it’s always best to first check what student loan services are available online. If you would like to talk to someone, he said INvestED provides free student loan help on its customer service line, (317) 715-9007.