Payment Options

It will be your responsibility to repay your student loans once you graduate, leave school or drop to less than half-time status. Be in charge of your finances by practicing the following:

• Attend the financial aid exit interview at your college or university.
• Understand your borrower rights and responsibilities outlined in your promissory note.
• Know when your payments begin.
  • Most student loans feature a window of time after you leave school and before you enter repayment called a grace period.
  • The length of the grace period varies based on the loan type.
  • Federal Stafford Loans include a six-month grace period.
  • Your promissory note contains information on your grace period.
  • You may also contact Iowa Student Loan or your other loan servicers to find out more about the grace period on your loans.
• Watch for your repayment schedule, which you should receive soon after leaving school.
  • Contact Iowa Student Loan or your other loan servicers if you do not receive a repayment schedule.
  • It is your responsibility to keep Iowa Student Loan or your loan servicers informed of your current address and phone, and to repay your loans on time.
• Become familiar with the types of repayment plans and assistance available to you.
• Make your payments on time.
  • This will keep your credit history clean and ensure you avoid default.
  • If you are having trouble making your payments on time, contact Iowa Student Loan or your other loan servicers for assistance. Iowa Student Loan offers different payment plans to help you remain in good standing with your loans.
• Keep track of your different loans.
  • Make sure you keep track of who is servicing your loans and the amounts you owe to each servicer, so that you don't miss any payments.