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Repaying your loans

Learn more about managing your student loans.

How can I keep track of all of my student loans?

Use the听 It can help you manage all of your student loans. This includes loans from every institution you have attended. You will need your Federal Student Aid PIN (FSA ID) to access your information.

What types of repayment plans are available?

Avoid default easily by utilizing a Forbearance or Deferment (if having temporary problems repaying your loans).

What calculators can I use to manage my loans?

• 听provides an estimate of the size of your monthly loan payments for three loans at the same time.
• features budget, monthly repayment and other calculators.

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Can my student loans be forgiven through bankruptcy?

You听must repay your loan even if you don't graduate, can't find work in your field of study, or are dissatisfied with your educational听program.听In most cases, student loans听(including听alternative听loans)听can not be discharged through bankruptcy.听
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What happens if I don't听repay听my loan?

Students who听fail听to听pay听their听student loans听on听time听may face serious, lasting consequences.听The day after you miss your first scheduled payment your loan becomes听delinquent. You will remain听delinquent听until you become current on your payments. If you are听delinquent听for 90 days or more, this will be reported to the major credit bureaus, resulting in a negative credit rating.听

If you continue to fail to make monthly payments for 270 days your loan will enter default. Defaulting on a loan will result in:

• Loss听of听future federal student aid (including grants).
• Losing eligibility for deferment, forbearance, and repayment plans.
• Tax refunds withheld or wages partially garnished (up to 15%听of what you earn) until the default is resolved.
• 听A negative impact on one's credit rating.听
• Collection fees

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