Graduation & Loan Repayment

Planning for the repayment of your student loans takes some thought and an evaluation of your situation and options. A solid understanding of repayment plans, the hazards of default and how to resolve federal student loan disputes is critical to your future financial health.

Important Note: The information on this page pertains only to federal student loans. If you borrowed a private education loan from a bank or credit union, you'll need to contact your lender to learn about repayment options and timelines.

Video Playlist: Federal Student Loan Repayment

Thumbnail of A Minute to Learn it - Student Loan Repayment


Preparing For Repayment

  • Exit Counseling

    When you're no longer enrolled at DU, your first task will be to complete exit counseling, which helps you understand your rights and responsibilities as a student loan borrower and will provide useful tips and information to help you manage your loans. You'll receive a communication from our office when it's time to complete this requirement.

    Exit counseling can be completed online, in about 30 minutes, through You will need your FSA ID to log in.

  • Grace Period

    After you graduate, leave school or drop below half-time enrollment, you are entitled to one grace period for Direct and Perkins loans. During this time—six months for Direct and nine months for Perkins—you're not required to make payments.

    Interest continues to accrue on most loans during the grace period. While you don't have to pay the interest as it accrues, any unpaid interest is capitalized and added to the loan principal when repayment begins.

    Repayment begins the day after your grace period ends. Your first payment is due within 60 days. You'll receive communication from your servicer about repaying your loans, so pay attention to any mail or email you may receive from them.

  • Determining Your Servicer

    The Federal Student Aid website provides comprehensive information about your federal loan history, including your servicer contact information, loan totals, and loan status. Visit your account dashboard and scroll down to the "My Loan Servicers" section to view the servicer(s) for your loans..

    It's important to know who is servicing your loans, as you will be working with them directly throughout repayment. A list of current federal student loan servicers is available through

    Remember, the Federal Student Aid website will only show your federal loan history. If you borrowed a private education loan, those will appear on your credit report, and you should contact your private lender directly regarding your repayment options.

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Repayment Plans

You have several repayment options available to you with federal student loans. Your servicer will automatically set up your loan on the standard repayment plan. If you need a lower payment, apply for an income-driven repayment plan—your payments can be as low as $0 per month.

Video Playlist: Federal Student Loan Repayment Plans

Thumbnail of Federal Student Loan Repayment Options

Here's a quick overview of available repayment plans:

Repayment Plan Payment and Time Frame Other Information
Standard Repayment
  • Fixed payments
  • 10 years
  • Pay less over time
Graduated Repayment
  • Payment increases every 2 years
  • 10 or 25 years
  • Pay more over time
Extended Repayment
  • Fixed or graduated payments
  • 25 years
  • Debt 30k or more
  • Lower monthly payment
Revised Pay As You Earn (REPAYE)
  • 10% discretionary income
  • 20 or 25 years
  • Includes both spouses' income to calculate payment
  • Available with PSLF
  • Taxed even with PSLF
Pay As You Earn (PAYE)
  • 10% discretionary income
  • 20 years
  • New borrower after 10/1/2007
  • Available with PSLF
  • May include both spouses' income to calculate payment
  • Not taxed with PSLF
Income-Based Repayment (IBR)
  • 15% discretionary income
  • 20 or 25 years
  • May include both spouses' income to calculate payment
  • Available with PSLF
  • Not taxed with PSLF
Income-Contingent Repayment (ICR)
  • 20% discretionary income
  • 25 years
  • Repay Direct loans jointly with spouse
  • May include both spouses' income to calculate payment
  • Available with PSLF
  • Not taxed with PSLF

Much more information about each plan is available through Federal Student Aid.

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Estimate what you'll pay each month.

Compare Repayment Plans

Loan Consolidation

Loan consolidation combines multiple federal student loans, with various repayment schedules, into one loan with a single monthly payment. All federal student loans are eligible for consolidation, which can simplify the repayment process if you have more than one loan servicer. In some cases, it can also help you qualify for better repayment options. Just be sure to weigh the pros and cons.

Loan Forgiveness and Cancellations

Loan forgiveness programs promote careers in fields that are underserviced or meet particular community needs. Depending on your situation, all or a portion of your loans may be cancelled or forgiven through these programs.

  • Public Service Loan Forgiveness

    Under the Public Service Loan Forgiveness (PSLF) Program, you can qualify for forgiveness of the remaining balance due on your federal student loans after you make 120 payments while employed full-time by certain public service employers. The 120 required payments need to be made under the Direct Loan Program, meaning you may need to consolidate your loans into the DL Program upon graduation if a portion of your current loans are borrowed through the bank-based Federal Family Education Loan (FFEL) or Perkins loan programs. All income-driven repayment plans are eligible for PSLF. Learn more and see whether you might qualify at

  • Teacher Loan Forgiveness

    The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, individuals who teach full time for five consecutive, complete academic years in certain elementary and secondary schools that serve low-income families and meet other qualifications may be eligible for forgiveness of up to a combined total of $17,500 in principal and interest on their FFEL and/or Direct loans. Additional information is available at

  • Perkins Loan Cancellation

    In certain cases, all or a portion of your Perkins Loan can be cancelled for service as...

    • a full-time teacher in certain areas.
    • a full-time librarian.
    • law enforcement.
    • public defender.
    • firefighter.
    • full-time nurse or medical technician.
    • full-time family service provider.
    • for certain military service.
    • for Peace Corps or ACTION volunteers.

    More information on Perkins Loan cancellation can be obtained through the Office of Student Billing. For reference, a Perkins Cancellation form is located under the "Forms" link on the Office of Student Billing website.

Inability to Make Payments

If you think you will have trouble making your loan payments, be sure to contact your lender or servicer immediately. They can help you change your payment plan to one that better fits your budget, and they can discuss deferment or forbearance options that will allow you to postpone your payments. Ask for help before you fall behind.

Video Playlist: Trouble with Repayment

Thumbnail of A Minute to Learn It - Trouble with Repayment
  • Deferment

    Deferments allow you to temporarily postpone the payment of your loan. Deferments are not automatic. You must apply and be approved by your lender. The most common reasons for deferment include...

    • returning to school at least half-time.
    • loss of job or inability to find a job.
    • economic hardship.
    • on active duty during war, national emergency or military operation.
  • Forbearance

    If you do not qualify for a deferment, you may be eligible to request forbearance from your lender. Forbearance is the temporary postponement or reduction in your monthly payment. The amount of time it takes to repay your loan may be extended. Interest continues to accrue during the period, so if you do not make interest payments it will increase your total loan balance.

    There are several different types of forbearance available depending on your situation, and it must be approved by your servicer. However, you may be eligible to move to an income-driven repayment plan instead of going into forbearance, so be sure to speak to your servicer!

Loan Repayment Workshops

We offer federal loan repayment workshops every quarter for graduating students. Can't attend one in person? View the recording from our spring loan repayment webinar and follow along with the slide deck. If you have any questions, please contact us. We're here to help—even after you graduate!

View our recent webinar

Loan Repayment Webinar



Financial Aid