You’ve Graduated – Now what?

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

• Federal Stafford Loans Loans deferred

Must be enrolled at least half-time

Interest will accrue on unsubsidized loans

Wabash College Loan

Loans deferred• Interest will accrue• Contact Wabash w/proof

of enrollment

Private LoansContact your lender/s for

options

Federal Stafford Loan 6 month grace period Identify Loan Servicer Get loan information

www.nslds.ed.gov Repayment Options

Standard Extended Graduated Income Based

Loan Consolidation Complete shortly before

repayment is to begin

Private Loans• Contact lender/s for

consolidation/repmt options

• Pay fixed amount per month

• 10 year term

•Repaid in shortest time

STANDARD REPAYMEN

T

•Graduated monthly payment amount

• Up to 25 year term

• Must have >$30k in outstanding FFEL or DL

EXTENDED REPAYMEN

T

•Payments start low and increase every 2 yrs

• Up to 10 year term

GRADUATED

REPAYMENT

•Available for federal loans• Through 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 Forgivenes

s

• Contact your loan servicer immediately

• Deferment• Reenrollment in

school• Unemployment• Economic Hardship

• Forbearance• Financial Difficulty• If 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)