Repayment Checklist

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Repaying your student loan is serious business. Your education loan may be your first chance to establish and maintain a good credit history. Take the necessary steps now to ensure you know what to do before you enter repayment.

More information about repaying your loans can be found in our "Guide to Repaying Stafford & Grad PLUS Student Loans."

Review the terms and conditions of your loan. Remember the Master Promissory Note (MPN) is legally binding and obligates you to repay your student loan.
Take your exit interview seriously. The exit interview is a federal requirement during which your rights and responsibilities as a borrower are explained. You'll also be asked to update important loan record information and receive helpful tips for successful repayment.
Stay in touch with your lender. Update your lender when your address, phone number or ability to pay changes. If you can't make a payment, talk to your lender BEFORE your payment is due. Help is available if you have trouble repaying your loan, but you have to ask for it.

Forgot who your lender is? Visit the National Student Loan Data System (NSLDS) at NSLDS.ed.gov where you can view a summary of your student loans that includes lender contact information.

Don't default on your student loan! Remember that making your loan payment is just as important as any other fixed expense, like your rent or car payment. If you default on your loan, you may face serious consequences including the withholding of federal and state tax refunds and adverse affects on your credit. If you need help, contact your lender or OGSLP at 800.358.5460 (toll-free) or WeCanHelp@ogslp.org.

Repayment Checklist

Entering Repayment

Managing Repayment

Recovering from Default

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