Managing Student Loans

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.

Loan Servicers

All federal Stafford, PLUS, and Graduate PLUS loans are now being serviced by one of the agencies listed on  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 by logging into or the National Student Loan Database System.

For more information on loan servicers, please go to

Countdown to Repayment

Are you a recent graduate? Prepare yourself for the end of your grace period by following these steps:

Month one: Find out what you owe and when;
Month two: chip away at interest;
Month three: evaluate payment plans;
Month four: educate yourself on loan forgiveness;
Month five: connect with your servicer;
Month six: save and get ready with auto-pay.

Financial Literacy Articles

A Montag. (2018, Sep 19). Kevin O’Leary shares his No. 1 piece of advice for paying off student loans. CNBC Make It. Retrieved from