Federal Student Loan Repayment: What Borrowers Need to Know
Understanding when and how to repay your federal student loans is essential for managing long-term financial health.
Three Important Reminders for Federal Student Loan Borrowers
1. Loan Repayment Obligation
You are responsible for repaying any federal student loans that are not currently in deferment or forbearance. Staying on top of your repayment helps protect your credit and financial future.
2. Explore Repayment Options
Visit to learn about the various repayment plans available. You may qualify for options that make your monthly payments more manageable based on your income.
3. Update Your Contact Information
Log in to using your Federal Student Aid ID (username and password) to:
- Update your profile with your current contact information
- Review your loan status
- Ensure your loans are in good standing
Reminder: You also have access to the Office of Career Services, which is available to support you with the tools and guidance that is tailored to today鈥檚 job market! We also encourage you to join the 91制片厂 Tech Alumni Association to stay connected with fellow alumni, current students, and faculty.
When Does Repayment Begin?
Repayment on federal student loans typically begins:
- After the borrower graduates, or
- When the borrower drops below half-time enrollment
However, repayment does not start immediately due to a built-in .
What Is the Grace Period?
Most federal student loans include a 6-month grace period after the borrower leaves school or drops below half-time enrollment. During this time, no payments are required, allowing borrowers to:
- Secure employment
- Establish financial stability
- Explore repayment options
Note: Not all loans have a grace period. Borrowers should verify the terms of their specific loans with their loan servicer.
Can Repayment Be Delayed?
Yes! Borrowers may qualify for a deferment, which allows temporarily postponement of payments under certain conditions, such as:
- Returning to school at least half-time
- Experiencing economic hardship
- Serving in the military
- Being unemployed
Deferments must be formally requested and approved. Borrowers should contact their loan servicer to apply.
What About Parent PLUS Loans?
Repayment for Parent PLUS Loans begins immediately after the loan is fully disbursed. However, parents may request a deferment:
- While the student is enrolled at least half-time
- For six months after the student graduates or drops below half-time enrollment
Resources
The offers extensive information on:
- Repayment plans
- Loan consolidation,
- Locating loan servicers
- Repayment calculators to estimate monthly payments
Additionally, Federal Student Aid provides a to help borrowers better understand the repayment process.