LOAN REPAYMENT WORKSHOP

Sponsored by

Graduate Collegeand

Office of Scholarships & Financial Aid

GRADSENSE.ORG

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By Degree• Enter your degree type, field of study, and preferred careerResults Show:• Median debt of students• Starting, median, and expert salary levels in desired career

Add It Up• Enter daily spending decisionsResults Show:• Amount saved when you graduate• Amount saved when you retire

Job Tips• Explore salaries by occupation (beginner, intermediate, advanced)• Job offer evaluation (cost of living, salary, benefits, etc)• Negotiating a job offer (salary discussions)

Repayment of LoansWhat will it take to cover monthly payments?• your degree type, field of study, and preferred career

ACCESSING YOUR LOAN INFORMATIONDIRECT LENDING SUBSIDIZED, UNSUBSIDIZED, GRADUATE PLUS

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ACCESSING YOUR LOAN INFORMATIONDIRECT LENDING SUBSIDIZED, UNSUBSIDIZED, GRADUATE PLUS

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www.nslds.ed.gov/nslds_SA

ACCESSING YOUR LOAN INFORMATIONDIRECT LENDING SUBSIDIZED, UNSUBSIDIZED, GRADUATE PLUS

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ACCESSING YOUR LOAN INFORMATIONDIRECT LENDING SUBSIDIZED, UNSUBSIDIZED, GRADUATE PLUS

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ACCESSING YOUR LOAN INFORMATIONPERKINS LOAN OR PRIVATE ALTERNATIVE STUDENT LOANS

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For NAU Perkins Loans: www.ecsi.net

For Perkins Loans borrowed through other colleges/universities:Contact the specific college or university

For Private Alternative Student Loans:Contact the specific lender

REPAYMENT PLANS

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www.studentaid.ed.gov

REPAYMENT PLANS

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REPAYMENT PLANS

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REPAYMENT PLANS

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REPAYMENT PLANS

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DIRECT CONSOLIDATION LOAN

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When considering consolidating your federal loans:

• Borrower benefits offered with original loan

• Interest rate on a Direct Consolidation Loan

• Timeline for repayment

DEFERMENT

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Period during which repayment of principal and interest is temporarily delayed.

• Eligibility• Study in an approved graduate fellowship• Study in an approved rehabilitation program for disabled students• During a period of unemployment or inability to find full-time employment• Active military duty• During the13 months following active military duty if you are a member of the National

Guard or other reserve components of the U.S. Military and were called to active duty while enrolled at least half-time or within 6 months after half-time enrollment

• Request submitted to loan servicer for Direct Loans. For Perkins Loans, contact the school you were attending when you received the loan.

FORBEARANCE

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If you can't make your scheduled loan payments, but don't qualify for a deferment, your loan servicer may be able to grant you a forbearance.

• Discretionary – Financial hardship or illness

• Mandatory - If you meet the eligibility criteria, your lender is required to grant forbearance

• You are serving in a medical or dental internship or residency program, and you meet specific requirements.

• The total amount you owe each month for all the student loans you received is 20 percent or more of your total monthly gross income (additional conditions apply).

• The total amount you owe each month for all the student loans you received is 20 percent or more of your total monthly gross income (additional conditions apply).

You are serving in a national service position for which you received a national service award.You are performing teaching service that would qualify for teacher loan forgiveness.You qualify for partial repayment of your loans under the U.S. Department of Defense Student Loan Repayment Program.You are a member of the National Guard and have been activated by a governor, but you are not eligible for a military deferment.

FORBEARANCE

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• Mandatory - If you meet the eligibility criteria, your lender is required to grant forbearance (cont.)

• You are serving in a national service position for which you received a national service award.

• You are performing teaching service that would qualify for teacher loan forgiveness.

• You qualify for partial repayment of your loans under the U.S. Department of Defense Student Loan Repayment Program.

• You are a member of the National Guard and have been activated by a governor, but you are not eligible for a military deferment.

USEFUL WEBSITES

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www.gradsense.org

www.studentaid.ed.gov

www.studentloans.gov

www.nslds.ed.gov/nslds_SA

For NAU Perkins Loans: www.ecsi.net