| Most federal student loans will give a 90 day grace | | | | to contact them is by calling their (800) number. They |
| period before you have to start repaying your loan | | | | do respond to e-mail, but it usually takes much longer |
| back. During this grace period, make sure all you | | | | for an answer. |
| contact information is up-to-date. You should receive a | | | | If you are unable to pay your first loan due to financial |
| Student Loan bill within 60 days after you've graduated | | | | difficulties, make sure to contact your lender. All federal |
| or stopped attending college. | | | | student loans will be administered through the Direct |
| When you do receive your first Student Loan bill, make | | | | Loan Program or the FFEL program. Students that find |
| sure to review the total amount owed and check to | | | | a job for a non-profit company or a student that |
| see if the monthly installment payments are correct. If | | | | becomes a teacher can request for a Stafford Loan |
| the monthly installment payments are not correct, | | | | Forgiveness. This loan forgiveness will allow them to |
| check to make sure your lender has you on the | | | | be relieved of all Stafford Loan debts that they may |
| correct repayment plan that you requested during the | | | | have incurred. |
| exit counseling sessions. | | | | It's important to pay your loan repayments on time. |
| There may be errors found within your first bill, so | | | | Your credit score will be negatively impacted and you |
| make sure to contact the Department of Education to | | | | will start to acquire late fees if you start to make |
| resolve any errors or issues with the bill. The best way | | | | monthly late payments. |