Things You Should Know About Student Loans
Student borrowers have a six-month grace period between when they leave school and when they are required to start paying back student loans. The grace period is intended to help students adjust to life beyond school and figure out their finances before they begin making payments.
Students are not required to make payments during their grace period, however they have the option to pay down student loans while in school or during the grace period.
To begin paying early students make payments directly to the company that services their loan. Each servicer has its own payment process.
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. Students gain access to their individual loan information by logging into www.nslds.ed.gov with their FAFSA PIN. You can find out which company services your loan by visiting nslds.ed.gov.
DEVELOP YOUR REPAYMENT STRATEGY BEFORE GRADUATION
Know Your Loan Servicer
Set up an online account while you're in school
Make payments while in school (even if it's only a little)
Keep in Touch!