Financial Aid Resources

• Use your FSA ID to log in to studentaid.gov.
• Confirm your student loan servicer.
  • If you don’t know who your servicer is, you can find out by logging on to studentaid.gov and visiting the “My Loan Servicers” section of your dashboard. That section of the dashboard will also give you the servicer’s contact information. Keep in mind, it is possible that your servicer may have changed their name or changed completely to another entity. Here is a list of Federal Student Loan Servicers.
• Log in to your student loan servicer account to review and update your contact information; this ensures that you will receive important communication about your loans.
• Reauthorize or select auto debit for monthly payments.
  • If you were previously signed up for automatic debit before the payment pause began, you must reauthorize or select automatic debit through your loan servicer account. If you have direct loans, one of the benefits of signing up for automatic debit is a 0.25% interest rate deduction.
• Review payment due date and amount.
  • Ensure that you update any banking information and are prepared for the withdrawal of funds.
• Use tools on studentaid.gov and servicer’s portal to ensure your repayment plan is the best fit; there are a variety of option available for you to consider.
  • More information regarding loan repayment plans and resources are available from Federal Student Aid (FSA).

• Log in to your student loan servicer account.
  • It may be necessary to update your contact information with your loan servicer. You should also review your outstanding balances and accrued interest.
• Consider your repayment strategy and decide whether you need to change plans.
  • Federal Student Aid’s (FSA) Loan Simulator is a useful tool for researching the best repayment strategy for you.
• Research repayment options and confirm the best plan for you.
  • Income Driven Repayment Plans (IDRs) could be a viable way to reduce your monthly payments.
  • SAVE Repayment Plan replaces the exhibiting REPAYE Plan. The SAVE Plan has new benefits for borrowers effective this summer with more benefits coming in 2024.
• Once you’ve decided what plan is right for you, log in to your servicer portal or studentaid.gov to select your desired plan.
  • If you need to change your current plan to an IDR, you can request a change of repayments plans on Federal Student Aid or with your servicer.

• Start early and be ready.
  • Take steps now to prepare for repayment and use the resources listed on this page if you anticipate encountering any challenges in beginning your loan repayment.
• Review your personal budget to accommodate student loan payments.
  • Need help creating a budget? FSA has resources to help you! More budget tips.
• Be patient and remain diligent.
  • With millions of borrowers transitioning into repayment at the same time, it is possible that loan servicers may be overwhelmed with a high volume of inquiries. It is possible you may not reach your servicer via phone the first time you call, and you may need to call a few times before getting connected. You may be able to find the information you’re looking for on your own on your loan servicer’s website, or by emailing or using live chat features.
• Keep documentation.
  • Keep good documentation of your financial aid and loan servicer records and communications, such as forms, research, who you spoke to, and detailed notes of what you discussed.
• Stay alert to avoid scams and review these tips for identifying a scam.

The Department of Education offers a number of programs to assist borrowers and allow those in specific circumstances to have their loans canceled, discharged, or forgiven. Several of these programs include:

• Public Service Loan Forgiveness (PSLF)
  • You can determine if you qualify for PSLF and if you do, you may access the PSLF form online.
• Student Loan Deferment and Forbearance
  • Deferment and forbearance are options that allows borrowers in short-term financial distress to temporarily stop making payments.
• Loan Forgiveness 
  • There are various loan forgiveness programs that are available for borrowers who meet certain criteria and circumstances. 
• Fresh Start Initiative
  • Helps delinquent and defaulted borrowers enter back into repayment in good standing. You can learn more about the Fresh Start and which loans are eligible through Federal Student Aid's Fresh Start Fact Sheet (pdf).
• One-Time Federal Student Loan Debt Relief
  • As a result of the ruling from the Supreme Court, the Biden Administration's plan for a one-time student loan forgiveness cannot proceed. The student loan pause will be ending. Student loan interest will resume Sept. 1, 2023. Payments will be due in October 2023 for most borrowers.

Undergraduate Federal Loans

• Federal Direct Loan
• Federal Direct PLUS Loan

Graduate Federal Loans

• Federal Direct Loan
• Federal Direct PLUS Loan

• Loan Forgiveness
• One-Time Federal Student Loan Debt Relief
• Fresh Start for defaulted borrowers
• Public Service Loan Forgiveness (PSLF)
• The Office of Federal Student Aid’s (FSA) Repaying Your Loans Booklet (pdf)
• Income-Driven Repayment (IDR) Plans
• Student Loan Deferment and Forbearance
• Student Loan Delinquency and Default

The information above was provided by the National Association of Student Financial Aid Administrators (NASFAA), © 2023.

The National Association of Student Financial Aid Administrators (NASFAA) is the only national, nonprofit association with a primary focus on information dissemination, professional development, and legislative and regulatory analysis related to federal student aid programs authorized under Title IV of the Higher Education Act of 1965, as amended. Our membership consists of more than 29,000 financial aid professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the United States.

NASFAA. “Student Loan Repayment Toolkit.” Advocacy, Policy & Research, 8 May 2023.

The University of Dayton and its employees will not enter into any type of revenue-sharing arrangement with any lender, guarantor or servicer. The term “revenue-sharing arrangement” refers to an arrangement between an institution and a lender where a lender provides or issues a loan that is made, insured, or guaranteed to students under the Higher Education Act attending the institution or to the families of such students; and the institution recommends the lender or the loan products of the lender and in exchange, the lender pays a fee or provides other material benefits, including revenue or profit sharing, to the institution, an officer or employee of the institution. All loans are processed without regard to lender or mode of transmission (i.e., electronic or paper).

The University of Dayton will neither recommend a private loan lender nor accept material benefits including revenue or profit sharing to the institution, an officer, or an employee of the institution or an agent.

University of Dayton employees are prohibited from soliciting or accepting any gift from a lender, guarantor, or servicer of education loans.

• Gifts include any gratuity, favor, discount, entertainment, hospitality, loan or other item. This includes a gift of services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has incurred.
• Gifts to family members of a University of Dayton employee are considered to be a gift to the employee if the gift is given with the knowledge and acquiescence of the employee and there is reason to believe the gift was given because of the official position of that employee.

University of Dayton employees are not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including opportunity to purchase stock) as compensation for any consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.

The University of Dayton will certify private loans from any lender. We do provide a comprehensive list of all lenders that are utilized by our students and update this annually.

All decisions will be made by the borrower in his/her independent review of borrower benefits and lender services. The University of Dayton will not refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.

The University of Dayton will not request or accept from any lender any offer of funds to be used for private education loans (defined in section 140 of the Truth in Lending Act) including funds for an opportunity pool loan in exchange for the University of Dayton providing concessions or promises regarding providing the lender with a specified number of loans made, insured or guaranteed; a specified loan volume of such loans; or a preferred lender arrangement for such loans.

The University of Dayton will not request or accept from any lender, guarantor, or servicer of student loans any assistance with call center staffing or financial aid office staffing.

University of Dayton employees who serve on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, are prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.