Everyone has a different situation and it’s important to consider all possible student loan repayment options based on your financial needs and the types of loans you have. If you have private loans, you will need to speak with your loan servicer to discuss what options are available to you.

If you have federal student loans, it’s important to determine three things before exploring your repayment options:

1. Type of Loan

Certain loans have particular benefits and repayment options. For example, if your loan is unsubsidized and you defer your loans, interest will continue to accrue. This could lead to your balance increasing during deferment.

2. Balance

While NSLDS will reflect your approximate loan balance, it may not be your balance as of today. For an exact balance or your payoff amount, you will need to contact your loan servicer.

3. Repayment Status

Your loans could be in grace period, repayment, deferment, forbearance or default status. Depending on your loan status, you may or may not qualify for certain federal student loan repayment options.

Once you have a basic understanding of your situation, there may be several student loan repayment options, such as:

You can contact your servicer for more information specific to your loan, including your most up-to-date balance or to sign up for automatic payments. For more information about which student loan repayment options are right for you, call 877-784-2008 or schedule a call below to speak with one of our student loan experts.