1.  What do I do if I can’t make my monthly payment?
Contact your lender and explain your situation.  There may be deferment or forbearance options available to you.  Also, you may be able to adjust your repayment schedule to temporarily lower your monthly payments.

2.  Do I have to make my payments if I continue my education?
If you are enrolled at least half time at an eligible school you are eligible for an educational deferment.  Contact your lenders for a deferment form.

3.  What is the process for obtaining a deferment or forbearance?
You must contact your loan servicer for each of your loans.  There is not a universal deferment form and you cannot assume your lenders know you are enrolled.

4.  Where do I send my payments?
The addresses are listed in Student Loan Repayment.

5.  Who should I make my checks payable to?
This information is listed in Student Loan Repayment.

6.  Can my loans ever be cancelled or forgiven?
There are certain circumstances when you may be eligible to get a portion of your Perkins Loan cancelled.  Consult your promissory note for information concerning possible cancellation benefits.

7.  How can I consolidate my loans?
If you currently have a Federal Direct Loan, you should investigate consolidation with the Federal Government by calling (800) 557-7392.

8.  Can I pay more than my regularly scheduled monthly payment?
You can always pay more that your regularly scheduled monthly payment.  This will lower the amount of interest you will pay over the life of your loan.  Under most circumstances, you CANNOT prepay your loans in advance by making a double payment and then skipping the following monthly payment.  You must always make your regularly scheduled monthly payment regardless of how much extra you may have paid the previous month.

9.  What will happen if I don’t pay my loans back?
You will go into default.  The consequences are listed in the default section above.

10.   What do I do if I change my address?
It is your responsibility to update your new address with each of your lenders by calling or writing to them.  You are still required to make your regularly scheduled payments even if you do not receive a billing statement.

11.   How can I find out who my lenders are and how much I owe on my student loans?
This information is provided to all students during exit loan counseling.  If you have misplaced this information, you can find out about your specific loans via the internet at www.nslds.ed.gov.  The first time you try this you will need to request a pin number.  After that you will be able to sign in and check the status of your student loans.