 |
Repayment |
|
|
|
|
|
The decision to finance your education was an investment in your future. As the time grows near to start paying back your student loans, you may be wondering where to start and what are your options?
Some important points about repayment:
Loan exit counseling
All students who borrow federal education loans are required to complete loan exit counseling. This process will refresh you about your rights and responsibilities before you enter repayment. You can fulfill this federal requirement by completing the EDTE$T® online.
Updating Your Lender
As a borrower, you are responsible for notifying your lender or servicer of changes in your name and address as well as any changes in your enrollment status including withdraw, graduation, or if you drop to less than half-time enrollment or change your school of attendance.
Grace Period
You typically have six months after you leave school to begin repaying your student loans. During this grace period it’s important that you contact your lender and ask for a repayment plan. Federal law requires lenders to notify borrowers regarding the lender’s name and address, the date of their first payment, payment options and estimated loan balance during your grace period. You must begin making payments at the end of your grace period whether you have received a repayment schedule or not. If your first payment due date is drawing near and you have not received a payment schedule, you must immediately contact your lender or servicer. If you are unsure who your lender is, you can view your personal loan history at www.nslds.ed.gov.
Use the following links to learn more about repayment options and conditions:
|
|
|
|
|
|
