Don't let the student loan repayment process overwhelm you. I recommend that you use a checklist to help you manage and pay your federal student loans.
do you want to do the checklist?
yes I would like it
This list will help you make payments and determine which payment plan is best for you. And you'll know what to do if you're having trouble making payments or think you might be eligible for loan forgiveness.
Is it necessary for me to complete Exit Counseling?
If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program or the FFEL Program, you must complete exit counseling each time you drop below half-time enrollment, graduate, or leave school.
Sure. Now I need to ask about After graduation or leaving school. With this list I can see plans that will have a payback of up to 20 or 25 years?
yes but if it is not fully refunded within that time the remaining balance will be forgiven.
Thank you. I'd also like to learn more about this repayment plan. And how would this assist me?
We can offer you a repayment plan that will help you save money over time because your monthly payments may be slightly higher than payments under other plans, this will make you pay it faster.
If the established amount is not paid at the right time or if payments begin to be delayed, is the loan considered in arrears?
yes and you may be charged late fees
using Loan Simulator. If I want to pay my loans quickly and I want to afford it, what can I do?
you must select the standard Payment Plan
When I sign up, what benefit does my payment have automatically taken from your bank account every month?