What are the issues surrounding the repayment of my loan?
Financial Factoid : Student loans must be repaid! There are a variety of options for determining your monthly payment, including: • Standard repayment • Long-term, equal-installment repayment • Graduated repayment • Income-sensitive repayment • Income contingent repayment • Loan consolidation As soon as you graduate or drop below half-time status, you will get the eligibility rules and repayment terms for these repayment plans as part of your exit counselling session. After graduating or leaving school, you must let your servicer (i.e. Lender or Guarantor) know about changes in your financial situation and personal information (such as your name, address, Social Security number, references, driver’s license number, and the name and address of your expected employer). It is critical that you notify your lender or servicer of any changes in your financial condition. Your lender/servicer can offer repayment options designed to help you manage your monthly loan payments. In addition, if yo
