Loan Repayment

It is important for student borrowers to know loan balance amounts and repayment options both before and after graduation. This section of our site includes information about loan exit counseling, repayment plans, loan consolidation, loan forgiveness/cancellation, and loan default and disputes.

We encourage students to work with their loan servicers and the U.S. Department of Education to stay informed about their loans. Students should make regular monthly payments on loans to maintain a good credit rating. Complete loan repayment information through the U.S. Department of Education is available at Understanding Student Loan Repayment.

As of June 2026, the U.S. Department of Education is offering a 1% interest rate deduction for federal student loan borrowers who enroll for automatic monthly loan payments. This deduction is available to anyone who first borrowed a federal Direct loan on or after July 1, 2012. Details on eligibility and how to request the deduction are available in the Department of Education's press release.