Help your students understand their options and responsibilities as federal student loan borrowers.
A wealth of information about loan repayment, including details about when repayment begins, what happens if a student goes into repayment but then returns to school, what the latest interest rates are, and more, is at StudentAid.gov/repay. Make sure all of your students are aware of that URL so they can take control of their loan repayment. And take a look at the tips and resources we've provided on this page for your use.
Loan Repayment Checklist (Result Type: General)
Description: Checklist helping borrowers manage and repay their federal student loans.
Resource Type: Web Resource or Tool
If you're working with a student who isn't sure where to send payments for their loan, you should recommend Dashboard at StudentAid.gov/dashboard. Dashboard provides information about which loan servicer is handling a borrower's loan.
Talking point: The borrower should keep in touch with their loan servicer regarding any questions, problems, change of address, return to school, or anything that could affect repayment of the loan.
There are several federal student loan repayment plans available to borrowers. We suggest that each borrower review the options and decide which plan is right for them.
Loan Simulator (Result Type: General)
Description: Online tool helping borrowers calculate federal student loan payments and choose a loan repayment option that best meets their needs and goals.
Resource Type: Web Resource or Tool
In some instances, a federal student loan can be forgiven, canceled, or discharged. Examples of these circumstances include the borrower's work in public service or the borrower is totally and permanently disabled. Encourage borrowers to investigate their options carefully and continue to make payments on their loans until the forgiveness, cancellation, or discharge has gone through.
Public Service Loan Forgiveness graphic (Result Type: PDF)
Description: Graphic that highlights the requirements for the Public Service Loan Forgiveness program. [1.72 MB]
Resource Type: Infographic
Also Available in: Text Version (Result Type: General)
If a borrower finds their payments too high, they should contact the loan servicer to discuss options, which may include
Unfortunately, too many borrowers wait until they're in default and find that their tax refund has been taken as payment before seeking help. If you're working with someone who's in default, reassure them that there are ways to resolve loan default, including repayment, rehabilitation, or consolidation. The important thing is for them to contact the loan servicer as quickly as possible.
Sometimes a borrower might get discouraged because they don't agree with the amount the loan servicer says is outstanding or feel that a determination of default is wrong. Find out how to resolve disputes about federal student loans, including getting help from the Federal Student Aid Ombudsman Group.