It is your responsibility to repay your loans. When you leave your programme or drop below at least half-time study, this will be reported to NSLDS and you will enter a six-month grace period (this does not apply to PLUS loans which go into repayment immediately, but you can request a deferment through your loan servicer).
It is important that you understand your rights and obligations when borrowing Federal US Loans. Students are advised to fully research and understand responsible borrowing and repayment before requesting Federal Student Loans. The Federal Student Aid (opens in new window) webpage has an estimate calculator where you can calculate your estimated loan repayments.
There are several repayment options available and you should discuss these with your loan servicer to determine which is the most appropriate for you. If you do not select a repayment plan you will be placed on the standard plan with fixed repayments for up to ten years. You can find details of your loan servicer on the Studentaid.gov website (opens in new window).
Entrance Counselling and Exit Counselling is a condition of your loan agreement and Entrance Counselling should be completed before you start your programme at the University of Aberdeen, and Exit Counselling as you are coming to the end of your studies with us. It will inform you about repayment and money management, and advise you how to make the necessary arrangements before and during repayment.
Your Student Loan must be repaid. If you do not meet the loan repayments as required by your loan servicer, you will go into default. You are advised to keep in touch with your loan servicer and discuss your options if you are struggling to meet your repayments. You are also advised to update your loan servicer of any changes to your personal details such as address, phone number, and enrolment status.
Useful guides on repaying loans and default:
- This Federal Student Aid webpage (new window) provides up-to-date information on repayment of Federal Loans.
- This Federal Student Aid webpage (new window) provides up-to-date information on Delinquency and Default.
- You may also find the Guide to Financial Aid useful (new window).