Loan Repayment Information


  • Some are through the government. Some are through private lenders like banks.
  • For some loans, often referred to as deferred, you don’t have to pay anything back until after you graduate. For others, you are expected to begin making payments while you are still in school, sometimes within a couple of months of borrowing the money.
  • Some do not charge you interest while you are in school. Others begin charging you interest immediately, even if your payments do not begin until after you graduate.
  • Some do not require co-signers. Some do require co-signers, who agree to pay back the loan if you do not.
  • Some are set at a fixed interest rate, which stays the same throughout the loan period. Others follow a variable interest rate, which can go up or down.
  • Some you can pay back early to save money on interest.
  • Some have extra fees.

Where Do You Start?

We strongly recommend that all students apply for federal financial aid each year by first filing the FAFSA. Based on your FAFSA, you might get a student-aid offer that includes federal loans.

Consider borrowing through these federal student loans first, before you borrow through private student loans. The terms of the federal student loans are generally better for you.

What's next?

Continue to monitor and keep track of your overall loan debt!