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Graduating

How to Repay Your Student Loans

When you graduate, drop below half-time, or withdraw from your academic program, you will receive a six-month Grace Period for your Direct Subsidized and Unsubsidized Loans and a nine-month grace period if you borrowed a Perkins Loan. Federal Graduate and Parent PLUS loans do not have a grace period.

You are required to complete Exit Counseling. Once your grace period ends, you must begin repaying your loan(s).

Federal student loans have a variety of repayment options which can be based on the amount you borrow, extended or based on your income.

EDUCATION LOAN PROGRAM HOW TO START REPAYMENT
Federal Direct Stafford Loans
(subsidized and unsubsidized) 
  1. Complete student loan exit counseling online. (required)
  2. Set up and access your account on your Direct Loan Servicer's website to make sure your contact information is correct.
  3. Start making payments online on your Direct Loan Servicer's website. Other methods of payment can be found on their website as well.
  4. If you start having trouble making your payments contact your Direct Loan Servicer.
Federal Perkins Loan
  1. Complete a Perkins loan exit interview online. (required)
  2. Access your PSU Student account and make sure your contact information is correct.
  3. Set up an account to automatically withdraw payments from your bank account

Payments can also be directed to the PSU Collections Office:

PSU Collections Office
Post Office Box 202
Portland, OR 97207-0202

Phone: (503) 725-3440
Email: perkins@pdx.edu
Fax: (503) 725-5458

For more information concerning the Federal Perkins Loan read the Business Affairs Office's Perkins Loan information web page.

Federal Direct Parent PLUS Loans
  1. Complete loan exit counseling online.
  2. Set up and access your account on your Direct Loan Servicer's website to make sure your contact information is correct.
  3. Start making payments online on your Direct Loan Servicer's website. Other methods of payment can be found on their website as well.
  4. If you start having trouble making your payments contact your Direct Loan Servicer.
Federal Direct PLUS Loans for Graduate and Professional Students
  1. Complete student loan exit counseling online. (required)
  2. Set up and access your account with your Direct Loan Servicing agency and make sure your contact information is correct.
  3. Start making payments online on your Direct Loan Servicer's website. Other methods of payment can be found on their website as well.
  4. If you start having trouble making your payments contact your Direct Loan Servicer.
Private Student Loans
(alternative loans)
  1. Contact your lender directly to set up a payment plan and explore methods of payment.
  2. Make sure to notify your lender if your contact information ever changes.
  3. If you start having trouble making your payments, contact your lender.

Loan Forgiveness and Cancellation

There are multiple loan forgiveness and cancellation programs available for students that meet certain criteria. The most popular federal student loan forgiveness programs are: