Calculate Your PaymentStep 1: Calculate Your PaymentYou can calculate your payment using the FAMS Rehabilitation Calculator. For this step, you will need a signed 1040 worksheet or tax transcripts for either of the previous two years. If you are married and your spouse lives with you, your spouse’s 1040 or transcript will also be required. If you do not have access to your tax documents, that’s ok! A FAMS associate can assist you in ordering your tax transcripts at no cost to you. The tax transcript will be provided to FAMS on your behalf and is merely a summary of household income and claimed dependents. To request transcript retrieval assistance, you can speak with a FAMS Associate at (800) 399-4639. 
Step 2: Submitting Income VerificationOnce you have submitted your calculation results, you will need to send documents to FAMS to support your income and dependents. The easiest method is to provide a copy of your tax transcripts. Information on how to submit your support documentation will be presented at the end of this video. Remember, if you need assistance accessing your tax transcripts, a FAMS Associate can help. Please call 1 (800) 530-3828 for more information. When your income support documentation has been received by FAMS, a FAMS associate will review the documents, and verify your minimum qualifying payment. FAMS provides a variety of convenient ways for you return your supporting documentation. 
Upload Your DocumentWhen you have saved the file to your computer, you can upload it to FAMS via our Rehabilitation Document Upload Form. If you printed the document and filled it manually you can still use our the Rehabilitation Document Upload Form, but first you must save an image of the document to your computer by scanning or taking a photo of the document with a digital camera or phone. 
Mail Your DocumentIf you would like to mail your document, you may do so to the following address. Please note, mailed documents take longer to process than uploaded documents due to the additional time it takes for the document to reach FAMS. 
Fax Your DocumentIf you would like to fax your document, you may do so using the following phone number: 
Step 3: Sign and Return Your Rehabilitation Agreement LetterWhen your income support documentation has been received by FAMS, a FAMS associate will review the documents, and verify your minimum qualifying payment. Next, the FAMS Associate will send you a Loan Rehabilitation Agreement letter confirming your payment amount and selected due date. Please note, You are not enrolled in the rehabilitation program until this document is signed and returned, so it is very important to return it as quickly as possible. If you would like to complete your rehailitation agreement letter prior to receiving it in the mail: ✔ You will need to download and save the PDF to your computer before filling out the form. ✔ Fill out your form in its entirety. ✔ Return your form by uploading it to Step 5.
Step 4: Make PaymentsOnce your rehabilitation request has been accepted take these steps: ✔ You will need to download and save the PDF to your computer before filling out the form. ✔ Fill out your form in its entirety. ✔ Return your form by uploading it to Step 5. It is vitally important that you return the appropriate documents as soon as possible. Even if you make all of the required payments for your rehabilitation, if your agreement documents are not returned before the end of your rehabilitation period, your loans cannot be removed from default by the U.S. Department of Education.
Step 5: Document SubmissionUse the following form to return your Financial Status Documents or Rehabilitation Agreement Forms.Financial Asset Management Systems, Inc. is a debt collection agency. This is an attempt to collect a debt, by a debt collector, and any information obtained will be used for that purpose. Calls to and from FAMS may be monitored and/or recorded. Additional State Notifications |
