If you need money now, start with the bill that’s squeezing you, not with a list of apps. If that bill is your federal student loan payment, you can often lower it or pause it with one call or one online application, and that’s faster and cheaper than finding the cash.
Is it something else, like rent, a car repair or groceries? Then the fastest real money is usually selling something you own, cashing out rewards you already have, or picking up a gig shift.
Here’s how to handle both, in that order.
The short answer
- Can’t make a federal student loan payment? Call your servicer before you miss it. An income-driven plan, a deferment or a forbearance can lower or pause it.
- On the Repayment Assistance Plan, the lowest payment is $10 a month.
- Missed payments hit your credit at 90 days, and a federal loan goes into default after 270 days.
- For cash today: sell something, redeem rewards you already have, or pick up a delivery shift. Skip payday loans.
If your student loan payment is the problem
Don’t just skip it. You have options that don’t cost anything, and help from your servicer is free.
- Find your servicer first: log in to StudentAid.gov, go to your dashboard, and look under My Aid for your loan servicer details. You can also call Federal Student Aid at 1-800-433-3243.
- Ask about an income-driven plan. The Repayment Assistance Plan bases your payment on your adjusted gross income, and it’s never less than $10 a month. If your income is low, the payment can be very low.
- Need a pause instead? Ask about a deferment or forbearance. Deferments cover situations like unemployment and economic hardship. A general forbearance covers financial difficulties. Interest keeps growing on every loan during forbearance, so it costs you later.
- Get the change confirmed before your due date. Until your servicer confirms it, your regular payment is still due.
What happens if you just stop paying
Your loan is delinquent the day after a missed payment. At 90 days, your servicer reports it to the credit bureaus. After 270 days with no payments, a federal loan is in default, and the whole balance can come due.
Wage garnishment and tax refund offsets for defaulted federal loans are paused right now, with no restart date announced, but a default still goes on your credit. More in our guide to student loan default.
Not sure which plan fits? Compare them in student loan repayment plans, or estimate your payment with the RAP calculator.
And never pay a company to do this for you. Anything a “debt relief” outfit charges for, your servicer does free.
How to get cash today
1. Cash out rewards you already have
When’s the last time you checked your credit card rewards? A lot of cards let you redeem points as a statement credit or cash, and it takes a couple of minutes. Check gift card balances, store credit and the cash-back balance in any shopping app too.
2. Sell something
You probably have electronics, furniture or gear you don’t use. Facebook Marketplace and local buy-and-sell groups can turn that into cash the same day if you price it to move.
A pawn shop is faster still, but read the deal. If you pawn rather than sell, you’re taking a loan against the item, and you pay extra to get it back.
3. Work a gig shift
Delivery apps let you work when you want once you’re approved, so a shift tonight or this weekend is realistic if you’ve already signed up. See how to drive for DoorDash, or browse the best gig economy jobs for options without a car.
4. Use apps for small amounts
These won’t cover rent. They can cover a few dollars while you wait on bigger money. Survey Junkie lets you cash out at $5. InboxDollars shows a $5 sign-up bonus. Swagbucks has a $10 bonus, but only after you spend $25 through its shopping portal within 30 days, so it’s not quick money.
Need a specific amount? We’ve got realistic plans for making $10 fast and making $60 in a day.
Borrowing: what to avoid
Payday loans and similar short-term loans are built to be rolled over, and the charges stack up fast. If you have to borrow, a personal loan from your own bank or credit union is usually the safer place to start, and compare the total cost before you sign.
Bottom line: borrowing to cover a student loan payment rarely makes sense when your servicer can lower or pause that payment for free.
Once you’re past it
The best fix for next time is a small cushion. Even a few hundred dollars set aside means one surprise bill doesn’t turn into a missed loan payment. A budget app makes it easier to find that money, and our list of the best budget apps is a good place to start.
When you’re ready to earn more on purpose, read how to make money to pay off student loans, or see everything in Side Income.
Contact your loan servicer before the due date. Ask about an income-driven plan like the Repayment Assistance Plan, where the payment is based on your income and can be as low as $10 a month, or about a deferment or forbearance if you need a pause. Help from your servicer is free.
Your loan becomes delinquent the day after the missed payment. At 90 days late, your servicer reports it to the national credit bureaus. After 270 days without payments, a federal loan goes into default.
Yes. Interest accrues on all loan types during forbearance. During a deferment, the government pays the interest on subsidized loans only.
Selling something you own, cashing out credit card rewards or gift card balances, or working a gig shift if you’re already approved. Survey and reward apps pay too slowly to cover a real bill.
Sources (7)
We use primary sources wherever we can: Federal Student Aid, the U.S. Department of Education, the IRS, federal regulations and each company’s own site.
- Federal Student Aid. Student loan delinquency and default. studentaid.gov. Accessed October 22, 2026.
- Federal Student Aid. Collections on defaulted loans. studentaid.gov. Accessed October 22, 2026.
- Federal Student Aid. Get temporary relief: deferment and forbearance. studentaid.gov. Accessed October 22, 2026.
- Federal Student Aid. Repayment Assistance Plan definitions. studentaid.gov. Accessed October 22, 2026.
- Federal Student Aid. Student loan servicers. studentaid.gov. Accessed October 22, 2026.
- Survey Junkie. Survey Junkie. surveyjunkie.com. Accessed October 22, 2026.
- Swagbucks. Swagbucks sign-up bonus terms. swagbucks.com. Accessed October 22, 2026.
