You have made an investment in your future by borrowing student loans. Be sure to protect your financial future by understanding your options for repayment, the consequences associated with failure to repay your student loan debt, and what to do if you have problems with repayment.

Your Lender and Federal Loan Balance

The National Student Loan Data System is the U.S. Department of Education’s central database for student aid. You can access all of your federal student loan information, including loan history, loan repayment status, and contact information for your loan servicer. To access this information you will need your four-digit federal pin number. If you cannot recall your pin – you can request a duplicate pin on the Federal Student Aid PIN Web site.

Repaying Your Loans

This website will assist you in identifying how, when, and to whom you will make your federal loan payments. Most educational loans have a grace period, but it’s beneficial to understand the characteristics of each loan and to remain informed about repayment plan options.

Loan Consolidation

Learn about consolidation so that you can decide whether a Direct Consolidation Loan is the right fit for you. Please keep in mind that there is no application fee to consolidate your federal education loans. If you are contacted by someone offering to consolidate your loans for a fee, you will not be working with one of the U.S. Department of Education’s consolidation servicers.

Deferment and Forbearance

Know your options if you are unable to begin repaying your federal student loan, and find out if you qualify for a deferment or forbearance. You will need to work with your loan servicer to apply for deferment or forbearance.

Forgiveness, Cancellation, and Discharge

Follow the link for a quick view of the certain situations that may qualify you for loan forgiveness, cancellation, or discharge due to your job, disability, or other circumstances.

Understanding Default

As a borrower, you are obligated to repay your student loans. Be sure to get the contact information of your lender so you are educated about repayment options, and avoid the serious consequences of ignoring your student loan payments.

Repayment Estimator

Use the repayment estimator to get a better grasp on your federal student loan payments under each type of repayment plan.

Budget Worksheet for Graduates

Following a budget is beneficial for managing every day expenses, in addition to your educational loans. This worksheet will give you perspective of how your future income may be utilized effectively.

Private Alternative Loans

Currently there is no central database for private alternative loans. It is important that you contact your lender and understand your responsibility and the terms of repayment for your private loans as they do not have the same terms/conditions as federal loans.