Hello All! Our oldest just graduated in May and has some small subsidized loans to repay. Will the loan provider reach out to her for repayment or is she just to go to the site and start sending in payments on her own? Not sure how this works. We’re hoping she goes ahead and gets them paid off before the interest starts accruing in 6 mos. Thanks
If she has a link to the site I’d encourage her to look it up and start making payments.
Yes we do have the link, we/she paid off some unsubsidized loans she got her first year. But someone had called us and left a message on our phone that they had new information on her loan repayments. I wasn’t sure if they’d call us or it was just a scam. We deleted the message, but now I’m wondering, do they contact you for repayment?
She should have been required to do exit counseling about those loans. If she just graduated, she has a grace period before she starts paying. But she will need to set up her payment plan.
My kids never got phone calls…ever.
@kelsmom would loan servicers ever call on the phone?
The phone call is probably a scam; if not, it is still probably some agency offering something that your daughter doesn’t need or wan. So you were right to discard the message.
The subsidized loans by definition would be Federal Direct loans and here’s where to get started:
https://studentaid.ed.gov/sa/repay-loans
You’ll find the links to all the loan servicers on that page.
And your daughter can view loan status and determine the appropriate loan servicer by logging in here:
https://studentaid.ed.gov/sa/?login=true
I seem to recall that the contact was via snail mail.
Our experience was mail. But I agree the college got after both kids about exit counseling. There was a larger mail envelope, iirc. If there’s any doubt, call the college’s fin aid and ask.
My daughter graduated last December so her grace period is ending and she’s received letters. She just received one that said her interest can be paid before it capitalizes (in July) if she wants. She also had one of the last Perkins loans and she’s received a few notices about that (9 month grace period) which is paid back to the school.
You can do it either way, go online or wait for the mail from the loan servicer.
Thanx everyone! She has the $ was gonna keep it until her grace was up in December and just pay the whole balance off.
A lot of recent graduates get the scam emails. The only legitimate repayment contact will be from the servicer and the Department of Education (both of whose communications will clearly identify who they are).
Yes, the emails/letters will come close the the end of the grace period.