Manage and Repay Student Loans

Get answers to the most common questions about student loans.

0:00 College or career school is an important step in achieving your future goals,
Xổ số miền bắc 20:05 and there are many financial aid options to consider.
0:08 Did you know that a federal student loan can be a great way to help pay for school?
0:13 After all, a grant, work-study job, or a scholarship
Xổ số miền bắc 20:17 can be a huge help, but these forms of aid may not cover
0:20 the full cost of attending school.
Xổ số miền bắc 20:23 So if you decide to take out a federal student loan,
0:25 it’s important to understand what you are getting and be a responsible borrower.
0:30 Getting a loan is a big decision. You might be paying your loans back
Xổ số miền bắc 20:34 for 10 years or more, so take your time to decide.
Xổ số miền bắc 20:37 And remember to accept only the loans that you need,
Xổ số miền bắc 20:41 because you’ll have to repay them once you’re out of school.
0:43 Here are a few things to keep in mind when deciding how much to borrow.
0:47 Do some research: Make sure that your school is the right fit for you
Xổ số miền bắc 20:52 both educationally and financially.
0:55 Location, location, location:
0:57 The amount of money you need to borrow can depend a lot
1:00 on where your school is located.
Xổ số miền bắc 21:02 In-state schools and community colleges
Xổ số miền bắc 21:04 may cost less than out-of-state schools.
1:07 And finally, getting an idea of your future income
1:10 is also important when deciding how much to borrow.
Xổ số miền bắc 21:13 Starting salaries vary greatly depending on your career path,
1:17 so it’s worth thinking about how the amount of your loan will affect your future finances.
Xổ số miền bắc 21:21 After all, your student loan payments should be only a small percentage
1:25 of your salary after you graduate.
1:27 Once you’ve decided on your school and figured out how much money you should borrow,
1:31 you’ll need to sign a promissory note, which is an agreement to repay your loan.
1:35 Make sure you keep a copy for your records.
Xổ số miền bắc 21:38 If you do take out loans, you’ll need to keep in touch
1:41 with your loan servicer when repayment begins.
1:44 Your loan servicer will make this easy for you
1:47 you by offering web, email, and phone contact options.
1:50 If you make this investment in your future,
1:52 being an informed, responsible borrower can pay off in a big way.
1:56 If you have questions or need more information,
Xổ số miền bắc 21:59 please visit StudentAid.gov.

Xổ số miền bắc 2 ." The "grace period" is designed to help you get financially settled before making payments, and it takes effect:

After graduation
After leaving school or
Xổ số miền bắc 2When you drop below half-time enrollment

Make Payments After Your Grace Period

After your grace period is over, you will have to start making your payments. Do not miss any payments. Paying your loans on time will .

Contact the Department of Education's (ED) Office of Federal Student Aid (FSA)Xổ số miền bắc 2 if you have .

Select a Repayment Plan for Your Federal Student Loans

Within the grace period you may receive information about repayment from your lender. You’ll have a choice of several repayment plans. .

Xổ số miền bắc 2Most federal student loans are eligible for at least one . These repayment plans are based on a percentage of your . They’re designed to make your student loan debt more manageable by reducing your monthly payment amount.

Contact Your Student Loan Originator

Your loan originator can answer your questions about repayment. If you don't know who your loan originator is:

Browse a list of .
Visit the for help. To use this system, you will need to create an account that will allow you to:
- Electronically sign Federal Student Aid documents
- Xổ số miền bắc 2Access your personal records
- Make binding legal obligations

0:00 If you've taken out a federal student loan,
Xổ số miền bắc 20:02 there will come a time when you have to repay what you've borrowed.
0:05 That time comes after you graduate, leave school,
0:08 or drop below half-time enrollment.
0:10 But don't worry, in most cases, you won't have to begin making payments right away.
0:14 For instance, you won't have to start repaying your direct subsidized loan
Xổ số miền bắc 20:18 or direct unsubsidized loan for 6 months,
0:21 and your Federal Perkins Loan begins repayment after 9 months.
0:24 If you have a PLUS loan, your loan enters repayment after your final disbursement,
Xổ số miền bắc 20:28 but you may be able to postpone your payments.
0:31 Before your loan enters repayment,
Xổ số miền bắc 20:34 you'll be contacted by a loan servicer.
0:36 A loan servicer is an organization that manages loans
Xổ số miền bắc 20:39 and collects payments on behalf of the lender.
0:42 For loans you receive from the U.S. Department of Education,
Xổ số miền bắc 20:45 you will submit your payments to your loan servicer.
Xổ số miền bắc 20:47 If you have a Perkins Loan from your school,
0:49 you'll make payments to your school or your school's loan servicer.
0:53 Your loan servicer can help you select the repayment plan that works best for you.
0:57 There are different types of plans that you can choose
1:00 choose based on the type of loan you received and how much you've borrowed.
Xổ số miền bắc 21:03 For example, you may select a fixed monthly payment.
1:07 But some people opt for a graduated repayment plan
1:10 where payments start low and increase every two years.
Xổ số miền bắc 21:13 If you think you'll need a longer amount of time to pay back the loan,
1:16 you may be eligible for an extended repayment plan.
1:19 There are also options that base your loan payments on your income
1:23 income in order to help you better manage your debt.
Xổ số miền bắc 21:25 If you ever find yourself having difficulty making payments,
1:29 contact your loan servicer immediately to discuss the options available to you.
1:33 If you need to look up the contact information of your loan servicer,
1:37 we have a great resource available.
1:39 The National Student Loan Data System can provide your loan servicer's name
1:43 and contact information, as well as other details about your loan.
Xổ số miền bắc 21:47 Visit www.nslds.ed.gov.
Xổ số miền bắc 21:54 If you are interested in estimating your monthly loan payments,
Xổ số miền bắc 21:57 or if you would like more information, please visit StudentAid.gov.

00:00 If you have a federal student loan, there are several options
0:04 available to help you manage your debt.
0:05 And if you’re having trouble making your loan payments,
0:08 contact your loan servicer immediately.
0:10 Your loan servicer will walk you through your options.
Xổ số miền bắc 20:14 For example, you might consider changing your repayment plan.
0:18 There are several repayment options available to you.
0:21 Most borrowers start off with the standard repayment plan,
Xổ số miền bắc 20:24 which offers a fixed payment over a 10-year period.
0:27 However, you can lower your initial monthly payments
Xổ số miền bắc 20:31 using a graduated repayment plan that starts with lower
0:34 monthly payments that gradually increase over time.
0:37 Or if you qualify, you may be able to lower your monthly payments
0:41 by extending them over a longer period of time.
Xổ số miền bắc 20:45 Finally, you may be able to choose a repayment plan
Xổ số miền bắc 20:47 that ties your monthly payments to your income.
0:50 If you meet certain requirements, you may be able to defer
0:54 or temporarily postpone your payments for a variety of reasons,
0:58 including a return to school, unemployment, or military service.
1:02 If you’re having trouble making your loan payments,
1:05 but do not qualify for a deferment, your loan servicer may grant forbearance,
1:10 which allows you to postpone or reduce your monthly payment
Xổ số miền bắc 21:13 for a limited period of time due to financial difficulty or certain other reasons.
Xổ số miền bắc 21:18 Contact your loan servicer to see if you qualify for deferment or forbearance.
1:23 If you have multiple federal loans,
Xổ số miền bắc 21:26 consolidating them into one loan may also help you better manage your debt.
1:30 In addition to having to make only one federal student loan payment each month,
1:35 your monthly payment amount may be lower
Xổ số miền bắc 21:37 since the length of your repayment schedule may be extended.
1:40 Consolidating your loans is easy and can be done
Xổ số miền bắc 21:43 any time after you leave school.
Xổ số miền bắc 21:45 Switching repayment plans, exploring deferment and forbearance options,
Xổ số miền bắc 21:49 or consolidating your loans may help you
1:52 better manage your student loan payments and avoid default.
1:55 Remember, if you’re having difficulty making payments,
1:59 contact your loan servicer immediately to discuss the pros and cons of these options.
2:04 If you have questions or need more information,
2:07 please visit StudentAid.gov.

2. Request help from the FSA Ombudsman Group

Xổ số miền bắc 2If you have followed the guide and still cannot resolve your issue, as a last resort, . The FSA Ombudsman works with student loan borrowers to informally resolve loan disputes and problems. Use you’ll need to discuss the dispute with them.

. This system contains financial aid information collected from schools, agencies, and other educational institutions. You will need your Federal Student Aid (FSA) ID information to access your account. Or, you may contact the Federal Student Aid Information Center (FSAIC).

Resolving Defaulted Loans

The helps student loan borrowers, who are in default, to arrange debt payments. There are multiple ways to contact the , or you may call 1-800-621-3115.

Xổ số miền bắc 2For more information on defaulted student loans, see .

Eligibility for Loan Forgiveness, Cancellation, and Discharge

Loan Forgiveness

You may qualify to have some or all your federal student loan amount forgiven if you enter and continue to work full-time in a nonprofit or public service job. Learn more about the .

Loan Cancellation, or Discharge

Under certain circumstances, a school or financial institution will agree to . Continue making payments on your loan until you hear whether your discharge went through, or if you qualify for forbearance (a temporary suspension or reduction in payments).

Do you have a question?

Xổ số miền bắc 2 Ask a real person any government-related question for free. They'll get you the answer or let you know where to find it.

Xổ số miền bắc 2Last Updated: August 12, 2020

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