Manage and Repay Student Loans

Kết quả xổ số hôm nay tốtGet answers to the most common questions about student loans.

0:00 College or career school is an important step in achieving your future goals,
0:05 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
0:17 can be a huge help, but these forms of aid may not cover
0:20 the full cost of attending school.
0:23 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.
Kết quả xổ số hôm nay tốt0:30 Getting a loan is a big decision. You might be paying your loans back
Kết quả xổ số hôm nay tốt0:34 for 10 years or more, so take your time to decide.
Kết quả xổ số hôm nay tốt0:37 And remember to accept only the loans that you need,
0:41 because you’ll have to repay them once you’re out of school.
Kết quả xổ số hôm nay tốt0:43 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
0:52 both educationally and financially.
0:55 Location, location, location:
Kết quả xổ số hôm nay tốt0:57 The amount of money you need to borrow can depend a lot
Kết quả xổ số hôm nay tốt1:00 on where your school is located.
1:02 In-state schools and community colleges
1:04 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.
Kết quả xổ số hôm nay tốt1:13 Starting salaries vary greatly depending on your career path,
Kết quả xổ số hôm nay tốt1:17 so it’s worth thinking about how the amount of your loan will affect your future finances.
1:21 After all, your student loan payments should be only a small percentage
1:25 of your salary after you graduate.
Kết quả xổ số hôm nay tốt1:27 Once you’ve decided on your school and figured out how much money you should borrow,
Kết quả xổ số hôm nay tốt1:31 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.
Kết quả xổ số hôm nay tốt1:38 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.
Kết quả xổ số hôm nay tốt1:50 If you make this investment in your future,
Kết quả xổ số hôm nay tốt1:52 being an informed, responsible borrower can pay off in a big way.
1:56 If you have questions or need more information,
Kết quả xổ số hôm nay tốt1:59 please visit StudentAid.gov.

Kết quả xổ số hôm nay tốt ." The "grace period" is designed to help you get financially settled before making payments, and it takes effect:

After graduation
After leaving school or
When 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)Kết quả xổ số hôm nay tốt 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. .

Kết quả xổ số hôm nay tốtMost 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:
- Kết quả xổ số hôm nay tốtElectronically sign Federal Student Aid documents
- Access your personal records
- Make binding legal obligations

Kết quả xổ số hôm nay tốt0:00 If you've taken out a federal student loan,
Kết quả xổ số hôm nay tốt0:02 there will come a time when you have to repay what you've borrowed.
0:05 That time comes after you graduate, leave school,
Kết quả xổ số hôm nay tốt0:08 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
0:18 or direct unsubsidized loan for 6 months,
0:21 and your Federal Perkins Loan begins repayment after 9 months.
Kết quả xổ số hôm nay tốt0:24 If you have a PLUS loan, your loan enters repayment after your final disbursement,
Kết quả xổ số hôm nay tốt0:28 but you may be able to postpone your payments.
0:31 Before your loan enters repayment,
Kết quả xổ số hôm nay tốt0:34 you'll be contacted by a loan servicer.
0:36 A loan servicer is an organization that manages loans
0:39 and collects payments on behalf of the lender.
Kết quả xổ số hôm nay tốt0:42 For loans you receive from the U.S. Department of Education,
Kết quả xổ số hôm nay tốt0:45 you will submit your payments to your loan servicer.
Kết quả xổ số hôm nay tốt0:47 If you have a Perkins Loan from your school,
Kết quả xổ số hôm nay tốt0:49 you'll make payments to your school or your school's loan servicer.
Kết quả xổ số hôm nay tốt0:53 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
Kết quả xổ số hôm nay tốt1:00 choose based on the type of loan you received and how much you've borrowed.
Kết quả xổ số hôm nay tốt1:03 For example, you may select a fixed monthly payment.
Kết quả xổ số hôm nay tốt1:07 But some people opt for a graduated repayment plan
Kết quả xổ số hôm nay tốt1:10 where payments start low and increase every two years.
1:13 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
Kết quả xổ số hôm nay tốt1:23 income in order to help you better manage your debt.
Kết quả xổ số hôm nay tốt1:25 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.
1:47 Visit www.nslds.ed.gov.
1:54 If you are interested in estimating your monthly loan payments,
1:57 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.
Kết quả xổ số hôm nay tốt0:05 And if you’re having trouble making your loan payments,
Kết quả xổ số hôm nay tốt0:08 contact your loan servicer immediately.
0:10 Your loan servicer will walk you through your options.
0:14 For example, you might consider changing your repayment plan.
Kết quả xổ số hôm nay tốt0:18 There are several repayment options available to you.
Kết quả xổ số hôm nay tốt0:21 Most borrowers start off with the standard repayment plan,
0:24 which offers a fixed payment over a 10-year period.
Kết quả xổ số hôm nay tốt0:27 However, you can lower your initial monthly payments
0:31 using a graduated repayment plan that starts with lower
Kết quả xổ số hôm nay tốt0:34 monthly payments that gradually increase over time.
Kết quả xổ số hôm nay tốt0:37 Or if you qualify, you may be able to lower your monthly payments
0:41 by extending them over a longer period of time.
Kết quả xổ số hôm nay tốt0:45 Finally, you may be able to choose a repayment plan
Kết quả xổ số hôm nay tốt0:47 that ties your monthly payments to your income.
Kết quả xổ số hôm nay tốt0:50 If you meet certain requirements, you may be able to defer
Kết quả xổ số hôm nay tốt0:54 or temporarily postpone your payments for a variety of reasons,
0:58 including a return to school, unemployment, or military service.
Kết quả xổ số hôm nay tốt1:02 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
Kết quả xổ số hôm nay tốt1:13 for a limited period of time due to financial difficulty or certain other reasons.
1:18 Contact your loan servicer to see if you qualify for deferment or forbearance.
1:23 If you have multiple federal loans,
1:26 consolidating them into one loan may also help you better manage your debt.
Kết quả xổ số hôm nay tốt1:30 In addition to having to make only one federal student loan payment each month,
1:35 your monthly payment amount may be lower
1:37 since the length of your repayment schedule may be extended.
Kết quả xổ số hôm nay tốt1:40 Consolidating your loans is easy and can be done
Kết quả xổ số hôm nay tốt1:43 any time after you leave school.
1:45 Switching repayment plans, exploring deferment and forbearance options,
Kết quả xổ số hôm nay tốt1:49 or consolidating your loans may help you
1:52 better manage your student loan payments and avoid default.
Kết quả xổ số hôm nay tốt1:55 Remember, if you’re having difficulty making payments,
Kết quả xổ số hôm nay tốt1:59 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

If 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.

Kết quả xổ số hôm nay tốtFor 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?

Kết quả xổ số hôm nay tốt Ask a real person any government-related question for free. They'll get you the answer or let you know where to find it.

Last Updated: August 12, 2020

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