FAFSA Undergrad Entrance Counselling
Which repayment plan will you be placed on automatically unless you change it by contacting your servicer?
Standard Repayment Plan
How can you reduce your total loan cost?
Make interest payments while in school, Make interest and principal payments while in school, Make interest and principal payments during the grace period (Any of the above)
Who should you contact if you have trouble making payments once you leave school?
Your loan servicer
Who do you contact if you've already accepted more loan money than you need?
Your school's financial aid office
What increases your total loan balance?
Both interest accrual and interest capitalization
Which loan type provides interest subsidy, meaning Department of Education (ED) pays your interest while you're in school, during your grace period, and during deferment?
Direct Subsidized
What percentage of your gross salary does the Consumer Financial Protection Bureau suggest your student loan payment be in order to be affordable and limit your risk of delinquency and default?
No more than 8%
What document explains your rights and responsibilities as a federal student loan borrower?
Your Master Promissory Note
Who do you contact if you have questions about repayment plans?
Your loan servicer
Who do you contact when it's time to enroll in a repayment plan?
Your loan servicer
