Managing Repayment

Undergrad Undergrad Tuition & Financial Aid About the Process

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. Borrow wisely.

Your education is an investment, so it’s important to make borrowing decisions that support your long-term success. Compare your borrowing options to ensure you choose the best financial path for your future.

2. 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.

3. 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:

4. Additional resources

Explore these tools to help you manage repayment: