Do I have to repay my loans?

Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and home mortgages. You cannot have these loans canceled because you didn't like the education you received, didn't get a job in your field of study, or are having financial difficulty. So think about the amount you'll have to repay before you take out a loan. Student loans aren't easily written off in bankruptcy.

You don't have to wait until you graduate to start repaying your loans.

For detailed information on repayment, visit StudentAid.gov/repay.

You can use our repayment estimator to estimate your federal student loan payments under each repayment plan. Visit StudentAid.gov/repayment-estimator to use the tool.

Contact Us

U.S. Department of Education

Federal Student Aid Information Center (FSAIC) P.O. Box 84 Washington, DC 20044-0084 1-800-4-FED-AID (1-800-433-3243) TTY users can call 1-800-730-8913. Callers in locations without access to 1-800 numbers may call 319-337-5665 (this is not a toll-free number).

Stay Connected

Access your federal loan information at StudentAid.gov/login

Information for U.S. armed forces StudentAid.gov/military

/FederalStudentAid

/FAFSA

The information in this guide was compiled in summer 2014. For changes to federal student aid programs since then, visit StudentAid.gov.

Printed: November 2014 Photos: U.S. Department of Education

Steps to remember when applying for financial aid

Keep track of what you need to do when applying for federal student aid. Remember that free help is available any time during the application process.

1. Get free information and help from your school counselor, the financial aid office at the school you plan to attend, or the U.S. Department of Education at StudentAid.gov or 1-800-4-FED-AID (1-800-433-3243). You should never have to pay for help!
2. Apply online at www.fafsa.gov. For the 2015–16 school year, you must complete the FAFSA between Jan. 1, 2015, and June 30, 2016 (no exceptions to either date!). Apply as soon as possible after Jan. 1 to meet school and state aid deadlines.
3. Within a few days of receiving your FAFSA, the U.S. Department of Education will send you your Student Aid Report (SAR)—based on the information in your FAFSA—by e-mail with a link to your electronic SAR. Whether you receive your SAR online or on paper depends on whether you provide an e-mail address on your FAFSA. Review your SAR and, if necessary, make changes or corrections following the instructions in it. Your SAR has to be correct to ensure that you receive your aid.
4. Be sure to respond to any correspondence your school sends you.
5. Review award letters from schools to compare types and amounts of aid being offered. Each school will tell you how much aid you can get there. Contact the school's financial aid office if you have any questions about the aid being offered.