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Class of 2015 - Student Loan Management Checklist
Not sure what to do when? This checklist should get you through your first year. If you get stuck or have a
question, please don’t hesitate to contact me: Cheri Marks [email protected]
May 2015
 Know what loans you have, who your servicers are and how to contact them. See page 2.
o Start here: www.nslds.ed.gov
o Set up an account with your servicer and include an email address (not your “edu” account)
 Complete Exit Counseling requirements online before graduation and select repayment plan.
o Subsidized, Unsubsidized, Grad PLUS: www.studentloans.gov
o Perkins, Health Professions, University Long Term: www.ecsi.net
o Missouri State Medical Foundation loan (they will contact you): Pat Mills, [email protected]
 Look over the FIRST for Residents tools through the AAMC (very helpful):
o https://www.aamc.org/services/first/first_for_residents/
June/July 2015
 Handle loans without a grace period
o Contact your servicer for information about forbearance, consolidation, or repayment
August 2015
 Develop a spending plan and get your household budget in order
 Consider paying down some of the accrued interest on your loans or pay off the smaller loans that you have
borrowed
 Payment due for Missouri State Medical Foundation Loan – contact Pat Mills [email protected]
October 2015 (60 days before repayment)
 Consider consolidating your loans if you have loans with multiple servicers, need a longer repayment term, or
want to make ineligible loans eligible for Public Service Loan Forgiveness
 Website for consolidation: www.studentloans.gov
 Submit documentation for income driven plans 60 days before your first payment is due
 Sign up for auto debit with your loan servicer to receive an interest rate reduction
November 2015
 6-month grace period expires on Stafford, Grad PLUS and University Loans
o Unpaid interest capitalizes
 You’ll receive your first student loan bill which will be due in December
February 2016
 Your 9-month grace period on your Perkins Loan expires: www.ecsi.net
o Pay according to billing statement – payment due March 1; OR
o Contact [email protected] if you need an alternative repayment option
Tips and Advice
 Remember to request your paperwork for forbearance, deferment, or income driven repayment annually
BEFORE it expires. Set reminders for yourself.
 Keep copies of all documents you submit.
 Keep the last tuition statement from spring 2015 to prove when you paid your educational fees.
 Maintain a phone log (name, date, and topic) of conversations with servicers.
 Call me if you have questions! 573-882-2921
BEFORE YOU GO... Visit NSLDS.ed.gov to get the following important information:
YOUR DEPARTMENT OF
EDUCATION LOAN SERVICER(S):
YOUR ADDITIONAL SERVICER(S):
Name:
Online Account
800.699.2908 • MyFedLoan.org
Online Account Auto. Payment
Account #: Monthly Payment: $ Due Date: Phone:
Auto. Payment
Monthly Payment: $
Account #:
Due Date:
Name:
Phone:
Online Account
Auto. Payment
Monthly Payment: $
Account #:
Due Date:
Name:
Phone:
Online Account
Auto. Payment
Account #:
Monthly Payment: $
Due Date:
800.236.4300 • www.mygreatlakes.org
Online Account Auto. Payment
Account #: Monthly Payment: $ Due Date: 888.486.4722 • www.nelnet.com
Online Account Due Date: 800.722.1300 • www.navient.com
Online Account Auto. Payment
Account #: Monthly Payment: $ Outstanding Principal:
$
Outstanding Interest:
$
Principal + Interest:
$
Estimated Monthly Payment:
$ 0.00
To determine your estimated monthly payment, visit StudentLoans.gov and
select “Repayment Plans & Calculators” under Managing Repayment.
Auto. Payment
Account #: Monthly Payment: $ YOUR TOTAL LOAN DEBT:
Due Date: CONTACT YOUR
SERVICER(S) TO:
•
Learn your account number
and monthly payment.
•
•
Set up your online account.
•
Update your contact
information.
Enroll in automatic
payment.
HAVING
TROUBLE?
Visit YouCanDealWithIt.com
for practical and easy-touse advice on how to deal
with common financial
situations facing recent
graduates.