Repaying Your Loan

Your loan repayment options will vary depending upon the loan type and the lender. Please read through this section carefully in order to understand the repayment options available to you as well as your rights and responsibilities as a borrower. As you begin to navigate loan repayment, you may want to explore the following online tools and resources:

• Student Loan Repayment Checklist
• Choose a Federal Student Loan Repayment Plan.
• Are you having trouble making payments?
• Get loan counseling and budgeting assistance from Educational Credit Management Corporation (ECMC).
• Learn about Consolidating Student Loans and how to apply for Direct Loan Consolidation.
• What are your Rights and Responsibilities as a borrower?

TIP: Are you paying extra toward your student loan? Contact your loan servicer to find out how to make the additional funds count toward your principal. Then confirm after every extra payment that your funds were applied correctly.

Beware of Scams 

Please be aware of companies that contact you regarding loan discharge, cancellation, forgiveness, or debt relief for a fee. Work only with the Department of Education or your loan servicers. You never have to pay for help with your federal student aid. To report a scam, please contact the Federal Trade Commission at reportfraud.ftc.gov or by calling 1-877-282-4357.