As you prepare to take the next step and embark on your post-graduation plans, understanding your student loan repayment options and responsibilities are especially important. To help you stay organized, we ask that you review the following check-list. Our expert staff of Financial Aid advisors are here to assist you with any questions you might have.
Confirm that your Student Account is paid.
- Check to see if you have a balance by logging into your SSOL portal.
- Review payment options.
- Balances may result in an Administrative Hold on diplomas, transcripts and other academic documents. This hold will not prevent students from participating in graduation.
Review your loan history.
- NSLDS (National Student Loan Data System) for Federal loans
- ACS Education Services for Institutional and Perkins loans
- Individual lenders for private loans
Complete Exit Loan Counseling.
Review Loan Repayment Options.
- Consider the various repayment plans that are available.
- Estimate post-graduation monthly loan repayment using the Loan Repayment Estimator.
- During your grace period, you are not required to make payments. Interest will not accrue on Subsidized Loans during the grace period, but Unsubsidized Loans will continue to accrue interest.
- 6 month grace period for Federal Direct Loans
- 9 month grace period for Perkins and Institutional Loans
- For private loans, confirm the grace period with your lenders.
- PLUS Loans do not have a grace period.
Learn if you qualify for loan forgiveness.
- Federal Loan Forgiveness/Cancellation Programs
- NYS Get on Your Feet Loan Forgiveness
- Teacher Loan Forgiveness
If you have any questions, feel free to contact us either via email or at (212) 854-3711, or walk-in at any time during our normal business hours.