Tagged with loan repayment in our Blog
Congratulations, Class of 2010! Now that you're out in the "real world," here are a few quick things to remember: If you have Federal Stafford Loans (subsidized or unsubsidized), you are required to complete a counseling session that will provide you with information on how to manage your student loans after college. In 6 months (provided you were a full time student), loan repayment begins. If you have any outstanding debts to your school, pay up! This may result in a delay in receiving your diploma. As well as difficulty in requesting transcripts. Read more here!
Deferment and forbearance are just fancy ways of saying postponing your student loan repayments. Let's take a look at the difference. Deferment is postponing your student loan repayment for a specific period of time for a specific reason. You have to apply for deferment through your lender; it is not automatic. You apply for a deferment by contacting your lender and filling out a form. Not everyone will qualify for a deferment. You will need to illustrate your need in order to receive a deferment. Remember to continue making payments on your loans until you are 100% sure you have… Read more here!
Now that you are a few months removed from school, its time to start thinking about repayment. Your repayment period begins at the conclusion of your grace period. There are a few things you need to know about repayment: Exit Counseling You will receive notice about this when you graduate or start attending school less than half-time. This session will provide information on your loans and when repayment begins. Grace Period When you graduate or withdraw you will have a six month time period where you will not be responsible for making payments. This time will allow you to get… Read more here!