Federal Direct Stafford Loan repayment begins when student’s either graduate, enroll less than half-time or withdraw and have used the allowable grace period usually six consecutive months. The standard repayment is 10 years, but can be extended based on the repayment plan selected. Students may also pay the balance of the loan, plus any interest due, early and without a penalty. For more information, call your Direct Loan Servicer.  You may find your servicer by visiting the Federal Student Aid website. 

1.  Exit Counseling is required by the U. S. Department of Education. 

     Log into to complete Exit Counseling.  

2.  Direct Loan Servicer-knowing who is servicing your federal student loans is critical in shaping your financial future.

     Log into to find your Direct Loan Servicer

Repayment Plans                                                                                                                                                                    

You may select or be assigned a repayment plan when you first begin repaying your student loan, you can change repayment plans at any time—for free.  Visit Federal Student Aid for more informaiton.

Postponing Loan Repayment (Deferment and Forbearance)
Under certain circumstances, you can receive periods of deferment or forbearance that allow you to postpone loan repayment. These periods do not count towards the length of time you have to repay the loan. For information on deferments and forbearance, call your Direct Loan Servicer.  You may find your servicer by visiting the Federal Student Aid website.  

Loan Discharge or Cancellation and Forgiveness
Under certain circumstances, you can receive cancellation or sometimes "forgiveness" of a loan. For more information, call your Direct Loan Servicer.  You may find your servicer by visiting the Federal Student Aid website.  

Federal Direct Consolidation Loans:
A Consolidation Loan allows students to combine one or more of your federal education loans into a new loan that offers you several advantages such as one monthly payment, flexible repayment options, or reduced monthly payments. Before making a decision to consolidate your federal student loans, consider factors such as the affordability of your monthly payments, the number of payments you need to make to multiple lenders, the interest rates on each of your loans, and how much you are willing to pay over the long term. For more information, call the Student Loan Support Center at 1-800-557-7392 or visit the Federal Student Aid website.  

Students enrolled before May 2009, will have borrowed loans through the Federal Family Education Loan Program (FFELP). Students enrolled after June 1, 2009, will borrow loans through the Federal Direct Loan Program. Therefore, students must be aware of multiple lenders. It is recommended that you visit the Federal Student Aid website.  The site provides a central database for student aid and allows students access to view information from schools, guaranty agencies, the Direct Loan program, as well as other programs; which is a valuable tool in managing your federal student loan information.

You will need your Federal Student Aid ID, FSA ID, to access the website; you have used the FSA ID when electronically signing your loans or when completing your FAFSA. 

Managing your debt is your responsibility and the Federal Student Aid website is a critical tool in assisting you. Keeping track of your financial obligations allows you to create a better financial future.  Review this information carefully before making a final decision.


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