Graduation & Loan Repayment
Planning for the repayment of your student loans takes some thought and an evaluation of your situation and options. A solid understanding of repayment plans, the hazards of default and how to resolve federal student loan disputes is critical to your future financial health.
Important Note: The information on this page pertains only to federal student loans. If you borrowed a private education loan from a bank or credit union, you'll need to contact your lender to learn about repayment options and timelines.
Video Playlist: Federal Student Loan Repayment
Preparing For Repayment
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Exit Counseling
When you're no longer enrolled at DU, your first task will be to complete exit counseling, which helps you understand your rights and responsibilities as a student loan borrower and will provide useful tips and information to help you manage your loans. You'll receive a communication from our office when it's time to complete this requirement.
Exit counseling can be completed online, in about 30 minutes, through StudentAid.gov. You will need your FSA ID to log in.
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Grace Period
After you graduate, leave school or drop below half-time enrollment, you are entitled to one grace period for Direct and Perkins loans. During this time—six months for Direct and nine months for Perkins—you're not required to make payments.
Interest continues to accrue on most loans during the grace period. While you don't have to pay the interest as it accrues, any unpaid interest is capitalized and added to the loan principal when repayment begins.
Repayment begins the day after your grace period ends. Your first payment is due within 60 days. You'll receive communication from your servicer about repaying your loans, so pay attention to any mail or email you may receive from them.
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Determining Your Servicer
The Federal Student Aid website provides comprehensive information about your federal loan history, including your servicer contact information, loan totals, and loan status. Visit your account dashboard and scroll down to the "My Loan Servicers" section to view the servicer(s) for your loans..
It's important to know who is servicing your loans, as you will be working with them directly throughout repayment. A list of current federal student loan servicers is available through StudentAid.gov.
Remember, the Federal Student Aid website will only show your federal loan history. If you borrowed a private education loan, those will appear on your credit report, and you should contact your private lender directly regarding your repayment options.
Repayment Plans
You have several repayment options available to you with federal student loans. Your servicer will automatically set up your loan on the standard repayment plan. If you need a lower payment, apply for an income-driven repayment plan—your payments can be as low as $0 per month.
Video Playlist: Federal Student Loan Repayment Plans
Here's a quick overview of available repayment plans:
| Repayment Plan | Payment and Time Frame | Other Information |
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| Standard Repayment |
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| Graduated Repayment |
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| Extended Repayment |
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| Revised Pay As You Earn (REPAYE) |
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| Pay As You Earn (PAYE) |
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| Income-Based Repayment (IBR) |
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| Income-Contingent Repayment (ICR) |
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Much more information about each plan is available through Federal Student Aid.
Estimate what you'll pay each month.
Inability to Make Payments
If you think you will have trouble making your loan payments, be sure to contact your lender or servicer immediately. They can help you change your payment plan to one that better fits your budget, and they can discuss deferment or forbearance options that will allow you to postpone your payments. Ask for help before you fall behind.
Video Playlist: Trouble with Repayment
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Deferment
Deferments allow you to temporarily postpone the payment of your loan. Deferments are not automatic. You must apply and be approved by your lender. The most common reasons for deferment include...
- returning to school at least half-time.
- loss of job or inability to find a job.
- economic hardship.
- on active duty during war, national emergency or military operation.
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Forbearance
If you do not qualify for a deferment, you may be eligible to request forbearance from your lender. Forbearance is the temporary postponement or reduction in your monthly payment. The amount of time it takes to repay your loan may be extended. Interest continues to accrue during the period, so if you do not make interest payments it will increase your total loan balance.
There are several different types of forbearance available depending on your situation, and it must be approved by your servicer. However, you may be eligible to move to an income-driven repayment plan instead of going into forbearance, so be sure to speak to your servicer!
Contact
Financial Aid
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finaid@du.edu
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303-871-4020
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303-871-2341
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Meet Our Staff
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University Hall Room 255
2197 S. University Blvd.
Denver, Colorado 80210 -
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