Students who have graduated from or dropped below 1/2 time status at William Jessup University AND took out a student loan at any point during their attendance will have to start repaying their student loan after a 6 month grace period. If you have any questions, please contact your personal Financial Aid Counselor or the Financial Aid Office directly at (916) 577-2233 or finaid@jessup.edu.
The Financial Aid Office at William Jessup University is dedicated to providing outstanding life-long service. If at any time in the future you find yourself in need of information or have any kind of a financial aid related question, regardless of what stage you are at in life, please feel free to contact us.
RESPONSIBILITIES
Fast Facts: Exit Loan Counseling
You are required (by federal regulation - which means you have to do this!) to complete Student Loan Exit Counseling within 30 days of graduation OR if you drop below 1/2 time enrollment - this also includes dropping out of school! Exit Counseling can be accomplished in many fashions, but the most popular way is to do it online at your own pace, on your own schedule. This interactive program gives you vital information to help you on the road to repayment and to avoid delinquency/default on your student loans.
To complete Exit Counseling, please click here.
Repaying Student Loans
YES - you must repay your student loans!!! During your grace period you will start receiving letters from your lender and/or guarantor of your loans to let you know when your grace period ends and repayment starts, as well as the amount of your monthly payment(s).
If you do not know how much you have taken out in student loans all together, please visit the National Student Loan Database at www.nslds.ed.gov/nslds_SA. This is a great tool to help you look at the amounts of all the loans you have taken out at every school you attended, as well as who your lenders are, who is servicing those loans and loads of additional information.
REMINDER!!! The interest you pay on your student loans is deductible on your income tax return! For more information, see IRS Publication 970, Chapter 4.
OPPORTUNITIES
Consolidating Your Loans
Direct Consolidation Loans allow borrowers to combine one or more of their Federal education loans into a new loan that offers several advantages.
- One Lender and one monthly payment. With only one lender and one monthly bill, it is easier than ever for borrowers to manage their debt. Borrowers have only one lender, the U.S. Department of Education, for all loans included in a Direct Consolidation Loan.
- Flexible Repayment Options. Borrowers can choose from as many as four different plans with various term selections to repay their consolidation loan(s), including an Income Contingent Repayment Plan. These plans are designed to be flexible to meet the different and changing needs of borrowers. With a consolidation loan, borrowers can switch repayment plans at anytime.
- No Minimum or maximum loan amounts or Fees. There is no minimum amount required to qualify for a Direct Consolidation Loan! In addition, consolidation is free.
To learn more or to consolidate your student loans, please visit www.loanconsolidation.ed.gov.
