Your first payment is due when your grace period ends, which for most federal student loans is six months after you graduate, withdraw, or drop below half-time enrollment.
IMPORTANT NOTE: Under the Master Promissory Note, it is your responsibility to know when and where to send your payments—do not wait to receive a payment notice or statement to make your payment. If you wait for your lender(s) to contact you first, you may have already missed a payment.
If you do not know when and where to send your payment, go to the Federal Student Aid (FSA) website, the central database for federal student loan information. You will find contact information so you can call you lender(s) if you have any questions.
You may be able to take advantage of a number of federal tax benefits, including credits, deductions and savings incentives to offset your costs for college or career training. For more... Read more >
If you cannot afford the payment once it is due, you may work with your lender(s) to try to find a solution that works for you. Federal student loans offer several options, such as deferments... Read more >
If you know who holds your federal student loan(s), you can contact each of those entities to receive a personal loan statement. If you are unsure who holds your loan(s), visit the National... Read more >
With subsidized loans, the federal government pays the interest on the loans while you are in school, during your grace period and during any authorized periods of deferment. Examples of... Read more >
A deferment is an authorized period of time during which you may postpone monthly payments. Deferments are granted by the lender under specific circumstances, such as unemployment or... Read more >
A forbearance is an authorized period of time during which a lender agrees to temporarily postpone payments or reduce your payment amount if you are experiencing short-term financial... Read more >
Yes, you may prepay your loans in part or in full at any time without any prepayment penalty, regardless of your repayment plan. If you can afford it, prepaying your loans helps reduce the... Read more >