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Smart loan borrowing

We can help you understand your student loan repayment options. If you have any questions, about student loans or other financial matters please schedule an appointment with a Financial Aid Officer today!

Know what you owe

You can view your federal student loans at studentaid.gov by logging in with your FSA ID username and password information. Contact the loan servicer listed or log into their website to access specific information about the loans you have.

Your parent will need to log in to view their Federal Parent PLUS loans with their FSA ID username and password information.

Your private loans will not be included in this StudentAid.gov list. If you are not sure who your lender is, you can get your free credit report from annualcreditreport.com for a list all of your creditors including any private student loan lenders.

Exit counseling

Federal loan exit counseling is requirement for every student who has borrowed a federal student loan. Loan exit counseling will help you understand your rights and responsibilities. You will also receive information to help you determine which repayment option best fits your needs. Loan exit counseling is done online and will take approximately 30-40 minutes to complete. This is a good starting point for developing a repayment plan.

Repayment options

Repayment options for federal direct loans include income-driven repayment methods such as Income-Based Repayment (IBR) and Pay As You Earn (PAYE) and Revised Pay As You Earn (REPAYE) plans. Federal Family Education Loans (FFEL) and private loans will have different repayment options. Contact your servicer or lender for available options.

Budgeting your payment amount

Sign in to use the Loan Simulator on StudentAid.gov to see your specific federal loan balances, the estimated monthly payments, and the total interest paid for each payment plan option. Use this amount when developing your monthly budget.

Loan consolidation options

Learn more about federal loan consolidation to see if it's the right choice for you. In certain circumstances, consolidation may not be your best option.

Beware of student loan debt relief offers and credit repair "deals" Private companies that promise student loan borrowers consolidation, cancellation, forgiveness, credit repair, or dramatically lowered payments usually charge fees for services that federal loan servicers offer free of charge.

Private loan options

If you have exhausted all federal, state, and institutional forms of financial aid, but are still in need of additional funds to assist with your educational costs, then a private loan may be an option to consider. Private loans are credit-based loans borrowed through private lenders. Generally, borrowers with better credit histories receive better loan terms. You may borrow up to the cost of attendance, less other aid.

Private or alternative loans generally have higher interest rates and fewer repayment options than federal loans.

While we cannot recommend a specific private lender, we do have helpful information on our website to help you decide which lender is right for you. If you wish to borrow a private loan, it is your responsibility to choose the private loan and begin the application process. The financial aid office will receive information from your lender to confirm your loan amount eligibility.

Successful borrowing

Keys to successful borrowing include the following:

  1. Avoid delays do not put off payments.
  2. Stay informed and up-to-date know your balance, track your progress and keep your contact information updated with your loan servicer.
  3. Focus on the diploma try to finish what you have started to limit debt.
  4. Be responsible and keep up with repayment slow and steady wins the race, so stick to your payment plan.
  5. Communicate with your loan servicer servicers can help, but they will need information so they can review your options.

5 Behaviors of Successful Student Loan Borrows

Loan forgiveness

You can find a helpful list of the types of forgiveness, cancellation and discharge options available on the Federal Student Aid website.

Some loan forgiveness programs include but are not limited to:

To find out whether you qualify talk to your loan servicer to ask about eligibility and to apply for loan forgiveness, cancellation or discharge. The human resources staff at your employer can answer questions about your employment status.

NOTE: Some, but not all, loan forgiveness is excluded from income consult with your tax advisor.

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