After you graduate, leave school, or drop below half-time enrollment, you have a six month period of time before you have to begin repayment. This six month period of time is called the “grace period”. Your federal loan servicer will provide information about repayment and will notify you of the date your loan repayment begins.
You will be able to choose a repayment plan that meets your needs. The amount you pay and the length of time to repay your loans will vary depending on the repayment plan you choose. Generally, you’ll have from ten to twenty-five years to repay your loans. Our office recommends that you explore the Direct Loan Repayment Plans and Calculators for more information about the repayment plans and to calculate your estimated repayment amount under each of the different plans.
- Choosing Student Parent Loans
- Direct Loan Quick Reference Guide
- The Rise of College Student Borrowing
All federal Stafford, PLUS, and Graduate PLUS loans are now being serviced by one of the agencies listed below. For specific questions about loan repayment or deferment, you can contact your federal loan servicing center directly. If you are not sure who your federal loan servicer is, you can look it up on National Student Loan Database SystemSM.
Direct Loan Servicing Center
Web site: www.dl.ed.gov
FedLoan Servicing (PHEAA)
Overseas borrowers: 717-720-1985
Web site: www.myfedloan.org
Great Lakes Educational Loan Services, Inc.
Web site: www.mygreatlakes.org
Web site: www.nelnet.com
Web site: www.salliemae.com