Loan Repayment

No matter which loan program you choose, remember to borrow only what you absolutely need--what you borrow today you will need to pay back after you graduate or withdraw (with interest)! Many students wisely maintain a lower-cost student lifestyle in order to borrow the least amount necessary to cover their college costs. The result is lower debt and loan payments that will be easier to manage after graduation.

It is better to live like a student when you are a student than to live like a student after you graduate. If you have borrowed student loans before, you can view your lenders and the amount of federal loans YOU have borrowed to date on the National Student Clearinghouse Loan Locator at http://www.nslds.ed.gov/nslds_SA/

Loan Consolidation

• Allows you to combine your federal loans so that you make only one monthly payment.
• You can consolidate any or all of your federal loans - you choose which ones to consolidate.
• There is no cost to you to consolidate.
• You can usually lower the interest rate on your Stafford Loans if you consolidate during your grace period.
• The Student Loan Servicer will assist you with the loan consolidation process.
• Applications and information about consolidation are available at your Student Loan Servicer.

More information is available on Federal Student Aid