Managing your Loans

Planning for the repayment or consolidation of your student loans takes some thought and an evaluation of your situation and options. Understanding your options, the hazards of default, and how to resolve federal student loan disputes are critical to your future financial health.

Exit Counseling

Federal regulations require all students who have received a Federal Education Loan from UALR to complete exit counseling at studentloans.gov

Exit counseling informs you of your rights and responsibilities regarding the repayment process as well as:

  • Terms of the Loan(s)
  • Repayment Options
  • Deferment and Forbearance
  • Loan Forgiveness Programs
  • The danger of default and how to prevent it from happening

A student must complete exit counseling when they drop to less than half time enrollment status, take a leave of absence or graduate.

 

If you struggle to repay your student loan, you should use one of the many loan repayment options.  For example, based on your income you may qualify for a repayment plan that requires a $0 monthly payment and other opportunities can forgive your loan after ten years in repayment.  Learn more at Federal Student Loan Repayment Plans