Recertification is on hold for Ed-owned student loans until six months after the payment pause ends. If you want to recertify before then — say to get a lower monthly payment amount to buy a home — you can self-report your current income. This means you can just call your student loan servicer, tell them your taxable income from all sources, and avoid having to submit proof of income from your tax return, pay stub, and so on.
Related: When to Recertify Income-Based Repayment
If you have privately-held federal student loans — i.e., loans you had to keep paying throughout the pandemic — you’ll need to submit your income information and family size before your recertification deadline. If you miss that date, your payment amount will no longer be based on your discretionary income. Instead, it will increase to what it would be under the Standard Repayment Plan, which, depending on your total student loan debt, could stick you with a four-figure bill.
Keep in mind that if you consolidate your Federal Family Education Loans or Perkins Loans, the new Direct Consolidation Loan will qualify for the moratorium on student loan payments and interest.
Related: When Do Student Loan Payments Start Again?