Managing Repayment

Take control of your student loans with smart planning and clear steps for repayment.

Managing your student loans starts now. Whether you’re graduating, dropping below half-time enrollment, or leaving Bethel, these steps will help you prepare for repayment and make informed financial decisions.

1. Complete exit counseling.

If you’ve received federal loans, a SELF Loan, or a TEACH Grant, exit counseling is required to review your rights and responsibilities.

• Federal subsidized and unsubsidized loans. Complete exit counseling at studentaid.gov.
• Perkins loans. Serviced by Heartland ECSI. Create an account at Heartland ECSI (school code: 8B) or contact Bethel’s Business Office at 651.638.6208 or business-office@bethel.edu with questions.
• SELF Counseling: Complete counseling through the Minnesota Office of Higher Education.

TEACH Grants. Complete exit counseling at studentaid.gov.

2. Consider repayment options.

You’ll work with your loan servicer to select a repayment plan that fits your financial situation. The How to Repay Your Loans section on studentaid.gov offers details on:

• Standard repayment. Fixed monthly payments over 10 years.
• Income-driven repayment plans. Payments based on your income and family size.
• Loan forgiveness options. Explore programs like Teacher Loan Forgiveness and Public Service Loan Forgiveness.

Considering loan consolidation? Consolidating federal loans can simplify your payments with a fixed interest rate. Learn more about the pros and cons of loan consolidation before deciding:

• Federal Loan Consolidation
• Private Loan Consolidation
• Direct Consolidation Loan Application

3. Additional resources

Explore these tools to help you manage repayment:

• 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