Will you be graduating soon? Or just taking some time away from school?
You may have already completed an exit counseling session if you took out a federal loan for your education, but in this month’s Mighty Money Minute we’ll highlight some important loan repayment information to keep in mind as you open this new chapter of your life.
- Federal student loans come with a six-month grace period before you begin repaying your loan. This allows you to delay repayment as you take the first steps in your career and begin getting your finances in order.
- NSLDS is an online database of all federal student loans. Click on “Financial Aid Review” to see a complete list of your federal student loans along with loan servicer contact information. If you have state or private loans, contact your lender for repayment information.
- You can learn about repayment plans, deferment, and forbearance in TG's repayment FAQ.
- If you are unemployed or transferring to another school, you have still more options available. You can contact your loan servicer to learn more about deferment or forbearance.
- Take a look at the Federal Student Aid Repayment Estimator. You have many repayment plan options to choose from, based on your income and financial situation.