Tagged with loan repayment in our Blog

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Congrats, Class of 2010!

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!

Categories: Financial Aid | Student Loans
Tags: loan counseling loan repayment stafford loan

Financial Aid Deferment/Forbearance

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!

Categories: Financial Aid | Student Loans
Tags: deferment forbearance loan repayment

Repayment

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!

Categories: Financial Aid | Student Loans
Tags: grace period loan exit counseling loan interest loan repayment

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