Federal Loans<\/strong> Private Loans<\/strong> Once you know how much you owe, you can look at options to repay your loans.\u00a0 You will receive a servicer’s notification listing the options you have to repay your loans (for a list of options, see the reverse side of this page).\u00a0 If you do not respond to the notification you will automatically be enrolled in the standard repayment plan.\u00a0 To change your plan you will need to contact your servicer.\u00a0 You will need to provide proof of income (i.e. W-2s, tax returns, pay stubs) if you want to set up an income driven payment plan.\u00a0 Private loans typically do not offer repayment plan options.\u00a0<\/em><\/p>\n Review the different repayment options<\/a>.<\/strong><\/p>\n Use the Loan Repayment Calculator<\/a> to determine your monthly payments on different plans<\/strong><\/p>\n Let your servicer know if your name, address, or phone number changes.\u00a0 If your financial circumstances change, you may want to switch into a different repayment plan.\u00a0 If you are worried that you might have trouble making your payments, contact your servicer(s) as soon as possible.\u00a0 You may be eligible to postpone (defer) your payments for a given period of time.\u00a0 You may be eligible for a forbearance as well (temporarily lower or suspend your payments).\u00a0 These options are available only if you are current on your loan.\u00a0 Get help before it is too late.<\/p>\n Augsburg has partnered with Lutheran Social Services to offer free Student Loan counseling.\u00a0 A counselor will help you review your payment options.\u00a0 Visit http:\/\/lssmn.org\/studentloancounseling\/<\/a> to review their services and schedule an appointment.<\/p>\n Additionally, if you are having issues with your student loan lender or servicer, the Student Loan Advocate with the Minnesota Department of Commerce is here to help.\u00a0 To file a complaint, please visit our web page<\/a>.\u00a0 For general questions, please contact Student Loan Advocate Jabra Kawas at\u00a0jabra.kawas@state.mn.us<\/a>\u00a0or 651-539-1022.<\/p>\n Depending on your future career you may be eligible for loan forgiveness.\u00a0 Details of this program can be found by visiting: studentaid.gov<\/a>.\u00a0 Two specific programs are the Direct Loan Forgiveness Program<\/strong> for Teachers and the Public Service Loan Forgiveness<\/strong>.<\/p>\n <\/p>\nHelp for MN Teachers!<\/a>\n <\/p>\n Loan consolidation can be a useful tool to get a handle on your federal loans but it is not right for everyone.\u00a0 Make sure you understand the benefits and downfalls of consolidation before you go that route.\u00a0 Visit: studentaid.gov<\/a> to learn more about consolidation as well as use the online calculator to determine what your monthly payments will be.<\/p>\n","protected":false},"excerpt":{"rendered":" Repaying College Debt Step 1: Know who you owe Federal Loans You can find all of your outstanding federal loans by visiting the National Student Loan Data System (NSLDS). NSLDS tracks your federal loans until they are paid in full, allowing you to see exactly how much you owe and to whom. Private Loans There …<\/p>\n","protected":false},"author":203,"featured_media":0,"parent":38859,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-39164","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/39164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/users\/203"}],"replies":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/comments?post=39164"}],"version-history":[{"count":28,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/39164\/revisions"}],"predecessor-version":[{"id":40900,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/39164\/revisions\/40900"}],"up":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/38859"}],"wp:attachment":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/media?parent=39164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nYou can find all of your outstanding federal loans by visiting the National Student Loan Data System (NSLDS). NSLDS tracks your federal loans until they are paid in full, allowing you to see exactly how much you owe and to whom.<\/p>\n
\nThere is no data base for your private loans. If you are unsure of who you owe you can receive a free copy of your credit report at www.annualcreditreport.com<\/a>. This will allow you to see how much you owe and to whom.<\/p>\nStep 2: Select Your Repayment Plan<\/h3>\n
Step 3: Stay in Contact<\/h3>\n
Step 4: Get help<\/h3>\n
Step 5: Consider Loan Forgiveness Options<\/h3>\n
*Loan Consolidation<\/h4>\n