Loan Repayment Grace Period

Exit Counseling

You'll receive information about repayment, and your loan provider will notify you of the date loan repayment begins. We can't emphasize enough the importance of making your full loan payment on time either monthly (which is usually when you'll pay) or according to your repayment schedule. If you don't, you could end up in default, which has serious consequences (scroll down to the Default discussion below). Student loans are real loans—just as real as car loans or mortgages. You have to pay back your student loans. Find out about your obligations in this section so you can stay on top of your loans.

FFEL Loan Borrowers

For FFEL loan exit counseling, please contact your loan provider for more information. Don't know who your lender is? Use the NSLDS to find out.

Direct Loan Borrowers

For free online Direct Loan counseling from the US Dept. of Education, click here.

Direct Loans are made to students attending school at least half time. The U.S. Department of Education is the lender, and you receive the loan money through your school. You may receive a Direct Subsidized Loan, a Direct Unsubsidized Loan, or both for the same academic year. A student qualifies for a Direct Subsidized Loan based on financial need, as determined under federal regulations. A student's need is not a factor in determining eligibility for a Direct Unsubsidized Loan.

The information on this site was produced by the US Dept. of Education and has been compiled by the site owners. We are not responsible for accuracy or completeness. Site design (c)2007

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