STUDENT LOAN ORGANIZATION SARA HONECK – DIRECTOR OF STUDENT FINANCIAL AID.

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STUDENT LOAN ORGANIZATION

What have you borrowed?

What might your repayment look like?

HOW MUCH HAS BEEN BORROWED

• NSLDS.ED.GOV – Federal loans

• Contact lenders for private loans

• KU Endowment – 1.800.444.4201

• SA.KU.EDU – History of loans at KU/KUMC

HOW MUCH HAS BEEN BORROWED

nslds.ed.gov

Save this to your computer

FEDERAL LOAN SERVICER INFORMATION

nslds.ed.gov

REPAYMENT CALCULATORS

Studentloans.gov

STUDENTLOANS.GOV

Once logged in, you will be given information on estimated loan repayment amounts based on federal loans and different repayment options.

REPAYMENT ESTIMATOR

Gives a quick snapshot of monthly payments for each qualifying repayment plan based on $101,722 in debt

Compare interest paid over the life of each repayment plan

Must qualify for these repayment plans

INCOME BASED REPAYMENTS PLANS

• Repayment amount is based on your income

• 20-25 year repayment periods, but you will not pay more than you would under the Standard 10 year repayment plan

• Two different calculations based on the date of your oldest loan that is still in repayment

• Generally uses information on your tax return – if married, you should check with a tax accountant to determine if it is best for you to file “married filing jointly” or “married filing separately”

• Any remaining loan balance if forgiven if your federal student loans are not fully repaid at the end of the given repayment period

• You may be required to pay taxes on what is forgiven, but as always please check with a Tax Accountant

INCOME DRIVEN REPAYMENT PLANS

MEDLOANS ORGANIZER AND CALCULATOR

AAMC.ORG Use AAMC login information No charge for medical students

ORGANIZER Allows you to track all of your loans

CALCULATOR Calculates different loan repayment scenarios based on loan

information in the organizer


• Add each loan individually

• Note interest rates!

• Include all loans- not just federal • Easiest and most

accurate way to enter in your loan history

• Only Federal loans


Next Step


Options during residency: Income-Based Repayment, Forbearance, Pay As You Earn (PAYE), or start full repayment

$ALT

• Free resource for students through the AAMC

• Offers helpful articles, videos, and tools for loan repayment, scholarship searching, and managing debt while in school

• My Money 101: video series with complementary tools and worksheets for topics like budgeting, risk management, and taxes

THANK YOU

Student Financial Aid

G035 Dykes Library

Monday – Friday 8:00 am - 5:00 pm

913.588.5170

[email protected]

www.aamc.org

www.saltmoney.org

http://www.saltmoney.org/

http://www.saltmoney.org/

STUDENT LOAN ORGANIZATION SARA HONECK – DIRECTOR OF STUDENT FINANCIAL AID.

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