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You’ve Graduated – Now what?

Post on 19-Mar-2016

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Student Loan Repayment. You’ve Graduated – Now what?. Next step. Are You . . . Going to grad school Starting a career Taking time off (NO!!) Unsure You Must . . . Consult loan paperwork Contact your lender(s) Provide updated address/phone #/email Know your options. Graduate School. - PowerPoint PPT Presentation

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  • Youve Graduated Now what?

  • Are You . . .Going to grad schoolStarting a careerTaking time off (NO!!)UnsureYou Must . . .Consult loan paperworkContact your lender(s)Provide updated address/phone #/emailKnow your options

  • Federal Stafford Loans Loans deferredMust be enrolled at least half-timeInterest will accrue on unsubsidized loans Wabash College Loan Loans deferredInterest will accrueContact Wabash w/proof of enrollment Private LoansContact your lender/s for options

  • Federal Stafford Loan6 month grace periodIdentify Loan ServicerGet loan informationwww.nslds.ed.govRepayment OptionsStandardExtendedGraduatedIncome Based Loan ConsolidationComplete shortly before repayment is to begin

    Private LoansContact lender/s for consolidation/repmt options

  • Pay fixed amount per month

    10 year term

    Repaid in shortest timeSTANDARD REPAYMENT

  • Graduated monthly payment amount

    Up to 25 year term

    Must have >$30k in outstanding FFEL or DLEXTENDED REPAYMENT

  • Payments start low and increase every 2 yrs

    Up to 10 year term

    GRADUATED REPAYMENT

  • Available for federal loansThrough Direct Loan

    Check with lender for private loan options

    Apply online, by phone, or paper application

    www.nslds.ed.gov http://loanconsolidation.ed.gov

  • Loan Forgiveness

  • Contact your loan servicer immediately

    DefermentReenrollment in schoolUnemploymentEconomic Hardship

    ForbearanceFinancial DifficultyIf not eligible for deferment

    Switch repayment plan

    Postponing Repayment

  • Important Web Addresses

    www.dl.ed.gov

    studentaid.ed.gov

    www.salliemae.com

    www.finaid.org(loan forgiveness information)

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