Understand Your Loan Repayment Options

Loans are a reality for most students but repayment doesn’t have to be a burden. Tools exist to assist you in keeping track of borrowing and managing repayment. The National Student Loan Data System (NSLDS) houses all of your federal loan borrowing history, including PLUS Loans, Perkins Loans and Direct Loans. We highly recommend that you regularly monitor your loan history so there are no surprises when it comes time to begin repayment.

To make your payments more affordable, repayment plans can give you more time to repay your loans or may be based on your income. Contact your loan servicer for helpful guidance on the right plan for you and to review or change your repayment plan. 

Also, some organizations specific to your major will offer debt management resources. For instance, the American Physical Therapy Association (APTA) features a resource page for its members. Go to www.apta.org/DebtManagement for more information.


Helpful Videos

Managing Your Student Loans

Responsible Borrowing


Loan Forgiveness and Cancelation

Federal student loan forgiveness, cancelation, or discharge allows some or all of your federal student loan debt to be forgiven depending upon your employment circumstances. See below for other types of loan forgiveness.


Loan Repayment Calculators

Knowing what to expect when your grace period ends (typically six months after graduation or withdrawal) is critical to ensure you're prepared to successfully manage repayment of your student loans. Below are some tools that will help you determine your monthly payments and guide you toward creating a budget.

Federal Loan Repayment Estimator
Imports data on federal student loans from National Student Loan Data System and accurately estimates payment based on a variety of loan repayment options.

FinAid Loan Calculator
A general loan repayment calculator for all types (federal and private) of educational loans.

Federal Student Loan Interest Rates & Budget Worksheet
Here you will find an interactive budget template to help you plan expenses while in college. Along with the repayment calculators provided, there is a handy chart that will give you the interest rate on your student loans according to when you borrowed the monies.