Loan Counseling & Repayment Information

Essential for understanding your rights and responsibilities before borrowing. Learn about:

• The importance of repayment
• Consequences of default
• Monthly repayment estimates

Complete Entrance Counseling here.

Required when you graduate or leave school. This session prepares you for repayment and includes:

• Loan repayment options
• Deferment and forbearance details
• Loan forgiveness information

Complete Exit Counseling here. 

Access online counseling sessions to gain insights into managing your loans effectively.

Before your loans enter repayment, it’s important to select a repayment plan that best fits your financial situation. If you do not choose a plan, a Standard Repayment Plan will automatically be assigned. However, you can change your repayment plan at any time, free of charge.

Familiarize yourself with your loan types and repayment amounts. Refer to the following resources for detailed information:

• Federal Direct Subsidized/Unsubsidized Stafford Loan Repayment Chart (PDF)
• Federal Direct PLUS Repayment Chart (PDF)

When you leave school or drop below half-time enrollment, the last official date of attendance marks the beginning of your loan grace period. During this time, you won’t need to make payments, allowing you to prepare for the transition to repayment. While in the grace period, you will receive a repayment schedule disclosure statement which outlines when your payments will begin and how much you will owe.

If you have concerns about your ability to make payments, contact your loan servicer immediately. They can help you explore various repayment options tailored to your individual circumstances.

If you encounter discrepancies regarding your loan balance or status, visit studentaid.gov/ombudsman. This website offers guidance on identifying your loan issues and working with your loan servicer to resolve them. The Federal Student Aid Ombudsman can assist with disputes that remain unresolved after contacting your servicer.

When it comes to managing your federal student loans, studentaid.gov is an essential resource. Use this platform to connect with your loan service provider, stay informed, and take control of your loan repayment.

Navigating student loans can be overwhelming, but you’re not alone! SAIC has teamed up with Student Connections, a nonprofit organization committed to helping students and alumni manage their loans effectively.

• Personalized Assistance: For tailored loan counseling, reach out to a Borrower Advocate at 866.311.9450 or visit my.studentconnections.com.
• Proactive Support: Student Connections will contact you throughout your repayment journey, guiding you on understanding your loan balance, exploring repayment options, and providing solutions if financial challenges arise.

The Public Service Loan Forgiveness (PSLF) Program is a federal initiative designed to provide relief to those working in public service or nonprofit jobs. Learn more at studentaid.gov.
 

If you find yourself in default on federal loans or grants, it's crucial to take action. myeddebt.ed.gov serves as your central hub for accurate information and assistance from the Department of Education's Default Resolution Group. This site provides resources to help you navigate and resolve defaulted education debt.

Managing multiple student loans can be challenging, but consolidating them into a Single Direct Consolidation Loan can simplify your repayment process. This option allows you to combine various federal loans into one, making it easier to keep track of your payments. By consolidating your loans, you’ll have just one payment to manage and flexible repayment plans and options.

If you encounter issues with your loans that cannot be resolved through your loan servicer, the Federal Student Aid Ombudsman, offered through the U.S. Department of Education, can assist you. Here you'll find more information. 

• Review Your Loan Information: Log into studentaid.gov to check your loan balances, servicer details, and repayment terms.
• Know Your Loan Types: Different loans may have different repayment options and terms (e.g., Federal Direct, PLUS loans).

• Mandatory Requirement: Ensure you complete exit counseling to understand your repayment options and responsibilities.
• Access Online Counseling: Complete your exit counseling at studentaid.gov/exit-counseling.

• Explore Options: Research repayment plans available to you, including Standard, Graduated, and Income-Driven plans.
• Choose the Right Plan: Select a repayment plan that best fits your financial situation and career path.

• Enroll in Auto-Pay: Consider setting up automatic payments to avoid missing due dates and to potentially qualify for interest rate reductions.
• Check Payment Due Dates: Mark your calendar with payment due dates to stay on track.

• Plan Your Finances: Factor your loan payments into your monthly budget to ensure you can meet your obligations.
• Prepare for Grace Period: Understand when your grace period ends and when payments will begin.

• Monitor Loan Servicer Communications: Regularly check your email and account for updates from your loan servicer.
• Keep Contact Information Updated: Ensure your loan servicer has your current contact information.

• Contact Your Loan Servicer: If you have questions or concerns, reach out to your loan servicer for assistance.
• Utilize Free Resources: Take advantage of services like Student Connections for personalized loan counseling.

• Explore Public Service Loan Forgiveness: If you work in qualifying public service jobs, learn about loan forgiveness options available to you.

• Assess Your Financial Situation: Regularly review your finances and adjust your repayment plan if necessary.
• Stay Proactive: If you anticipate difficulty making payments, contact your loan servicer immediately to discuss deferment or forbearance options.