Pay for College

Explore college costs and plan how you'll pay for your degree or certificate.

How To Repay Your Student Loans

Prepare to pay back your loans before you graduate

Before you take out a federal student loan, here's something you should keep in mind: You will have to repay your loans even if you do not complete school, can't find a job after school, or feel dissatisfied with the education you received.

So before you borrow, have a repayment strategy ready that will help you succeed in repayment. Here are some suggested ways to tackle repayment.

  1. Know the terms of your loans, including due dates, payment period, interest rates, monthly amounts, and other details. Planning early can help you avoid financial difficulties down the road.
  2. Take steps while in school that will help you avoid default later. Look for your first job while still in school. Learn about repayment plans designed to fit with your budget given debt and family size. And, while still in college, plan your budget for life after college.
  3. Keep in touch with your loan holder or servicer, especially if personal circumstances change. Lenders are often willing to work with borrowers to make repayment possible and easier. You may be eligible for consolidation programs or deferment/forbearance plans. Contact your lender if you:
    • Leave school
    • Change schools
    • Change graduation dates
    • Graduate
    • Change your enrollment status to less than half time
    • Change deferment status
    • Change your name, address, or phone number
    • Have trouble making your loan payment

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