Preparing for Loan Repayment

Preparing for Loan Repayment

Exit Counseling

Federal regulations require all students who accept loans to complete Exit Counseling. The purpose of Exit Counseling is to review loan history and repayment terms with each student borrower. It is required for students who graduate, withdraw, or drop below half-time (6 hours) enrollment in a given semester. Exit Counseling can be completed here.

FSA ID

All federal websites now require you to log in using your FSA ID. You can create it here if you have not previously done so.  Click “Get Started.” You will have to enter personal information and verify it using a security code. If you have already created an FSA ID and need to update your information, log in to make corrections. It is important to have an accurate address and email on file to ensure timely communication with your lender.

loan repayment simulator

This tool will provide you with an estimate of what your monthly payments will be and what repayment options are available. 

National Student Loan Data System

This is where you can monitor all of your loan information. It includes interest rates and lender information. 

Public Service Loan Forgiveness

Some jobs and employers provide an opportunity for Public Service Loan Forgiveness. Teachers, government employees, nonprofit employees, medical professionals, and people with disabilities may qualify for loan forgiveness.

Consolidation

Consolidating student loans is the best option for some students, but it’s not for others. Consider your options and what works best for you. You can find information here.