Loan Repayment/Default

Steps to loan repayment:

Complete Exit Counseling

If the student received a federal student loan, the student is required to complete Exit Counseling before they graduate or leave school. Students are emailed directions to complete Exit Counseling prior to graduation or at the time of withdraw.

Review Your Financial Aid History

You can find information at  on the following items:

  • Loan Type
  • Amount you originally borrowed and the current loan balance
  • Expected repayment date
  • Servicer contact information, including website address

Keep in mind that the information provided at the National Student Loan Data Service only applies to the student’s federal financial aid when using the students unique FSA ID. It does not include Parent PLUS Loans obtained by the parent (dependent student) or Alternative Lending (for example: Sallie Mae or Wells Fargo) to pay cost not covered by federal financial aid for schooling or cost of living.The parent borrower can access NSLDS with their unique FSA ID to see Parent PLUS loan information.

Visit Your Servicer’s Website and Setup an Account

It is important to know who your servicer is and be familiar with the resources available to student borrowers.Visit and review the information on “How to Repay Your Student Loans” and utilize the Repayment Estimator.

Make Your Payments

Your loan servicer will provide you with a loan repayment schedule. There are several loan repayment plan options that you can discuss with your servicer prior to going into repayment.

Resolve Problems Quickly

Your federal student loans have a 6-month grace period and come into repayment when the grace period ends. Problems need to be resolved quickly to avoid penalties or default. If you see errors in your record contact your servicer immediately.

Stay Out of Default

Don’t miss payments. If you are unable to make payments contact your servicer to discuss repayment options.

More Information about Default