Preparing for the student loan payment re-start: 5 steps ODs should take now

October 3, 2022
AOAExcel, along with our student loan refinancing partner, Laurel Road is here to assist AOA members in navigating this payment re-start.
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On August 24, the Administration announced that the final extension of the student loan payment holiday will run through December 31, 2022. Beginning January 1, 2023, thousands of AOA members will be required to make a student loan payment for the first time in several years.

AOAExcel, along with our student loan refinancing partner, Laurel Road is here to assist AOA members in navigating this payment re-start. Below are five steps doctors of optometry can take to prepare for the re-start of student loan payments in 2023.

  1. Determine your loan service provider. Last year, three of the largest student loan servicers did not renew their governmental contracts with the Department of Education. This means there is a chance that your federally held student loan has changed loan servicers since you last made a payment. You can find your loan service provider by logging in to and clicking “My Loan Servicers” or calling the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.
  2. Log in to your account. Make certain you know the correct username and password for your loan service provider now so you are not scrambling to gain access to your account next year.
  3. Update your contact information. A lot has changed in the last 2+ years and your address may be one of them. Be sure to update you contact information within your profile as well as your loan service provider’s website to ensure you stay up to date with the latest information.
  4. Re-start your auto-pay plan. Depending on your servicer, it is possible that previously set-up auto-payments have been disabled. Log in to your account ahead of time and find out if your auto-pay plan needs to be set up again or if any additional steps need to be taken.
  5. Avoid student loan debt scams. Since the recent announcement, there has been an uptick in student loan debt scams via phone & through the mail. Borrowers may receive a phone call or letter promising relief through programs that do not exist such as the “pandemic grant.” Do not accept or give out any personal information to unexpected offers of financial aid.

Have additional questions? Be sure to attend AOAExcel’s Navigating the Student Loan Payment Re-start with Confidence Workshop on Wednesday, November 2, 2022 at 8PM ET. AOAExcel & Laurel Road encourage AOA members to bring their own questions to the workshop or email questions to ahead of time.


Are you ready to refinance now? AOA members can receive a 0.25% interest rate discount 1. Check your rates in less than 5 minutes without any effect on your credit score2 or easily apply online today.

Register for Workshop

All credit products are subject to credit approval. Laurel Road is a brand of KeyBank National Association. All products offered by KeyBank N.A.
IMPORTANT INFORMATION: The U.S. Department of Education recently announced a student loan debt relief plan which includes forgiveness of up to $10,000 for qualifying federal student loans and up to $20,000 for qualifying Pell Grant recipients. For more information, please visit: Please note that if you refinance qualifying federal student loans with Laurel Road, you may no longer be eligible for certain benefits or programs and waive your right to future benefits or programs offered on those loans. Please carefully consider your options when refinancing federal student loans and consult for the most current information.

1The 0.25% American Optometric Association (AOA) member interest rate discount is offered on new student loan refinance applications from active AOA members. The AOA discount is applied to your monthly payment and will be reflected in your billing statement. The discount will end if the AOA notifies Laurel Road that the borrower is no longer a member. This offer cannot be combined with other member or employee discounts.
2Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.

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