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Note that details provided on this page reference loans made under the Federal Family Education Loan Program (FFELP). Effective July 1, 2010, all new federal student loans will come directly from the U.S. Department of Education (ED) under the William D. Ford Federal Direct Loan Program (Federal Direct Loans). For information regarding Federal Direct Loans, refer to ED's Direct Loan Program Web site or contact the college's financial aid office.
Loans are great resources for getting financial help through college. They’re also a smart resource. College is expensive. And chances are, you may not be completely prepared to make loan payments while in college. Once out of college, you can usually choose a repayment plan that best suits your new income and financial status. Sure, it may take a while to pay off, but your college-graduate level career will be worth it for years to come. In order to keep the amount you’ll have to repay to a minimum, only borrow the amount that you absolutely need each year. To help determine how much of your after-college income should be taken up by student loan payments, use the SLOPE Calculator.
If you have any questions about your loan and/or grant amounts, outstanding balances, disbursements or loan statuses, check with the National Student Loan Data System (NSLDS).
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