Loan Repayment Resources
During your academic career at Antioch University, you may receive emails from regarding $ALT. $ALT is a financial literacy program offered through American Student Assistance, a non-profit organization dedicated helping students and families manage higher education debt. $ALT offers information about student loan repayment, consolidation, and loan forgiveness programs. It also provides helpful career services, and will help Antioch students to manage finances and student loans. For more information about $ALT, Antioch students can log in at www.saltmoney.org/antioch.
Much of the information contained in this page can be found at www.studentloans.gov; you may want to bookmark that as a resource site for your student loan questions. As always, if you have questions regarding student loan repayment or any other questions regarding financial aid, please contact the Financial Aid Office at your campus.
Your Federal Student Loan History
You can review your federal student loan history and lifetime borrowing totals at the National Student Loan Data System. The PIN for accessing your NSLDS record is the same 4-digit PIN you use to complete the FAFSA. (Go to pin.ed.gov if you need to request a duplicate PIN).
Loan Repayment Options
There are several excellent programs offered by the U.S. Department of Education for federal student loan borrowers. The first program is called Income Based Repayment (IBR). IBR is designed to help borrowers whose income makes a Standard (10-year) loan payment hard to afford.
A second repayment program, launched in December 2012, is called Pay As You Earn (PAYE). PAYE is also designed to make your monthly payments more affordable, and it offers slightly better terms than the IBR program. However, PAYE is only available to students whose entire federal loan borrowing has occurred exclusively after October 1, 2007. To review your eligibility for these programs, log in to www.studentloans.gov.
Another program that may be of interest is called Federal Public Service Loan Forgiveness (PSLF). PSLF which will forgive remaining federal student loan debt after 10 years of qualifying loan payment and eligible employment.
A borrower may use IBR or PAYE to lower their monthly payment, and have the remaining balance forgiven through Public Service Loan Forgiveness after 10 years of qualifying employment.
For more information on this program, you might also see www.studentaid.ed.gov.
To simplify repayment, and to qualify for most of the Forgiveness programs offered by the Department of Education (including Loan Forgiveness for Teachers, and Public Service Loan Forgiveness), you will need to consolidate your loans. To consolidate, go to https://loanconsolidation.ed.gov/AppEntry/apply-online/appindex.jsp.
If you have questions regarding student loan repayment or any other questions about financial aid, please contact the Financial Aid Office at your campus.