Once You Graduate

If you’re getting ready to graduate, that means it’s time to start thinking about repaying your students loans. Knowledge is power when it comes to student loan repayment.

Learn what to do as a student that is graduating.

To start, complete Exit Counseling

Exit counseling provides important information you need to prepare and repay your federal student loan(s) Exit counseling will give you the opportunity to select a repayment plan option through your specific loan provider. To complete the exit counseling you will sign in with your FSA ID information on studentloans.gov.

Loan Repayment video

Manage Your Student Loan

See below for more information on the resources available on managing student loans.

Loan Repayment

If you leave college or drop below half-time status, you will begin repaying your federal student loans. Most loans offer a grace period which will allow you time to get financially settled and choose a repayment plan before you begin repaying your loans.

A guide to repaying your federal student loans.

Understanding Repayment Plans

You have a choice of several repayment plans that are designed to meet your needs. The amount you pay and the length of time to repay your loans will vary depending on the repayment plan you choose.

Get details about repayment plans.

Loan Consolidation

Loan consolidation allows you to combine multiple federal education loans, resulting in a single monthly payment instead of multiple payments. Consolidation can simplify payments but may also result in loss of benefits.

Learn what it means to consolidate your loans.

Deferment and Forbearance

You can temporarily postpone or lower your loan payments while you’re back in school, in the military, experiencing financial hardship, or in certain other situations.

Find out more about deferment and forbearance.

Forgiveness, Cancellation, and Discharge

In certain circumstances such as certain kinds of teaching service, total and permanent disability, or the closure of the school where you were studying, your obligation to repay your federal student loan may be removed.

Learn about loan forgiveness, cancellation, or discharge.

Understanding Default

Loans must be repaid. NEVER ignore delinquency or default notices from your loan servicer. If you don’t make your monthly loan payments, you will become delinquent on your student loan and risk going into default.

Find out what may happen if you default on your student loan.

Resolving Loan Disputes and Problems

The SFA Ombudsman’s Office has been created by the U.S. Department of Education to help student loan borrowers resolve loan disputes and problems.

The Ombudsman Customer Service Line is (877) 557-2575.

Announcement About Loan Consolidation Companies

Keystone College is not affiliated with companies that offer what appears to be student loan forgiveness and/or consolidation. We do not endorse products, organizations or companies that charge fees to assist with financial aid. Individuals should be wary of such organizations. There are many free resources available, you should NEVER have to pay a fee to file your FAFSA or consolidate your loans!