Once you graduate or drop below half time (fewer than 6 credits), you'll need to repay your federal loans.

1. Borrow Wisely.

Compare your borrowing options and make sure you make the choice that is best for you. Your education is an investment and borrowing wisely is important to your future success.

2. Complete Exit Counseling.

If you've received federal loans or a SELF Loan you'll need to complete exit counseling to go over your rights and responsibilities.

• Subsidized and Unsubsidized exit counseling can be completed on the studentaid.gov website.
• SELF Counseling can be completed with the Minnesota Office of Higher Education.

3. Consider Repayment Options.

Visit the How to Repay Your Loans section of studentaid.gov to explore payment plan options for your federal direct loans. Information about other topics such as loan forgiveness, cancellation or discharge is also available here.

You will work with the servicer of your loan to manage the repayment of your federal loans and select a repayment plan. The standard repayment plan has equal payment amounts each month over a 10 year time period, but there are also other income based repayment options which are available.

Perhaps you want to consider loan consolidation. Consolidating loans could help you manage your finances with fewer monthly payments and a fixed interest rate. Learn more about the pros and cons of consolidating your federal loans. You may also wish to explore consolidating your private loans.

Dropping below half-time status? See Bethel's policies for refunds of tuition and financial aid.

4. Additional Resources.

• Direct Loan Exit Counseling Guide
• Student Loan Repayment Questions and Answers Handout
• Student Loan Repayment Options Video
• Teacher Loan Forgiveness Information
• Public Loan Forgiveness Information
• Federal Loan Servicer Contact Information