Loan Repayment

Loan repayment can be an intimidating subject for borrowers.  Whether you are considering borrowing or already in repayment, being informed can help you take control of your finances.


I'm worried about repaying loans.  What can I do?

Before you borrow any loan funds, remember to keep borrowing to a minimum.  Borrow only what you need to cover necessary expenses, not extras.  To lower your monthly payment, consider paying interest while in school or in your grace period before repayment.  Unpaid interest is added to your loan balance (capitalized) when you enter repayment.

If you've already received a Direct loan, take control!  Contact Direct Lending to talk about your repayment options.  Consider these payments as a part of your monthly spending plan to decide on the best option for you. 

I'm already in repayment for a loan, but I'm having trouble making payments.  What can I do?

Contact Direct Lending as soon as possible!  They can help you!  They can review your information to see if you qualify for a forbearance, loan forgiveness, loan cancellation, loan dischargeloan consolidation, or a change in your repayment option.

Don't go into default by not making payments!  Not making payments can result in severe consequences like having your wages garnished, having your professional license revoked, and becoming ineligible for any federal aid in the future.  Avoid all these problems by contacting Direct Lending!

You can find more facts about default and repayment tips here


What is loan forgiveness?  How do I know if I qualify? 

Some borrowers can have a portion or their entire loan forgiven or canceled.  You may qualify if you perform volunteer work with certain organizations, work as an educator in certain areas, or are enlisted in the Army National Guard.  For more information loan forgiveness, click here.