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You've graduated (or maybe you are just taking a semester or two off) and your lender/servicer has started sending you notices that you will soon have to start making payments on your student loans. What are your options? If you want to start paying you can go right ahead and send in your check or money order. You should remember (from the information provided to you when you took out your loans) that there are many alternative payment arrangements available to assist you in repaying your student loans should you find yourself in a situation where making full and timely payments becomes a burden. If the payments are too big for you to manage you may want to look into the repayment options your lender/servicer has for you. If you have a large number of loans (especially if you attended several different schools) and you’re having a hard time keeping track of them (or making the monthly payments) you may want to consider loan consolidation. If you can’t keep up with the payments due to your economic situation (or if you are delinquent) you should look into loan deferment/forbearance. Whatever your situation your lender/servicer wants to assist you in repaying your student loans. But you have to take the first step. Access the appropriate lenders/servicer web sites from the links provided above and explore your options. There is no reason for you to worry about how you are going to keep up with your payments (or for you to fall behind in payment) when you are being offered so many opportunities to modify your payment schedule to meet your situation. If you are not sure which lender/servicer is holding your loans or if you just want to review your loan history you have several resource to help you. Please visit our Your Loan History web page for more information. Assistance is available to you from the United States Department of Education in the event that you experience a problem or a dispute with a lender/servicer/guarantor of an existing student loan.
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