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Managing Your Loans

Online Access to Your Direct Loans

If you would like to access your Direct Loan information, view your loan balance, your payment history, change your payment due date and select a new repayment plan, change your address or download deferment, forbearance, and electronic debit forms you will need to make contact with your loan servicer. Log on using your Social Security Number and your federal FSA ID to the National Student Loan Database System to find your Loan Servicer's contact information. 

Exit Counseling/Repayment Options

If you previously received a Subsidized, Unsubsidized Stafford loan or Graduate PLUS loan and are no longer enrolled at least half time, have withdrawn or graduated from the University of Idaho, then you are required to complete Exit Counseling. By using your federal FSA ID, sign into Student Loans.gov, click on the "Complete Counseling" option and then select "Exit Counseling" to begin the process.

For better understanding of your payment options, the exit counseling will provide you with your loan servicer, with their contact information, with the balance of your federally backed loans, and the different payment plans that are available to  you.

After you graduate, leave school, or drop below half-time enrollment, you have a six-month period called a grace period before you must begin repayment of your Direct Subsidized and Direct Unsubsidized loans.

Parents who have borrowed Parent PLUS loans have the option to defer payments on their PLUS loan as long as their student remains enrolled in at least half-time credits.

The Direct Loan Program offers seven repayment plans. You can select the one that is right for your financial circumstances and switch repayment plans at any time without penalty. Here is a list of the repayment options that are available for you to choose from:

  • Standard: Requires fixed monthly payments ($50 min.) for up to 10 years, although the repayment term can be from 10-30 years for Direct Consolidation Loans depending on your total educational debt.
  • Graduated: Allows for graduated (payments start low and gradually increases) payments for a maximum of 10 years, although the terms can be from 10-30 years depending on your educational loan debt.
  • Extended: Allows fixed or graduated payments with a maximum repayment term of 25 years for borrowers with more than $30,000 in outstanding Direct Loan debt.
  • Income Contingent: Bases monthly payments on your yearly income, family size, and loan amount. As income increases or falls annually so do your payments. After 25 years any remaining balance on the loan will be forgiven, but you may be required to pay taxes on the amount forgiven.
  • Income Based: Similar to the Contingent plan but has more public service stipulations as well as minimum annual income limits. If you are a teacher or work in government or at a non-profit organization, you may qualify for the Public Service forgiveness component that allows after 10 years of payments (while under qualified employment and income requirements) the remainder of your loan would be forgiven.
  • Pay As You Earn: Your maximum monthly payments will be 10% of your discretionary income for qualified borrowers. Your payments may change as your income changes and the term can be up to 20 years.
  • Income-Sensitive: Allows your monthly payment to be based on your annual income and will change as your income changes.

For more information on any of these repayment plans, please visit the repayment page on the Student Aid on the Web website.

Cancellation/Forgiveness Options for Loans

In certain circumstances, your loans can be discharged or canceled. Click on the links below for more information on the different cancellation options.

Important Websites

The National Student Loan Data System (NSLDS) is the US Department of Education’s central database for student aid. Use this website to find out information (Loan History) on the Federal student loans borrowed while an undergraduate or graduate. Loans included will be Direct Loans, Federal Family Educational Loans, and Perkins loans. Private loans will not be included.

The Federal FSA ID website. Use this if you need to register for an FSA ID or if you need to retrieve a forgotten number.

This is the US Department of Education’s Federal Aid website. It contains extensive information about Grace Periods, Deferment, Forbearance, Consolidation, Cancellation, and defaulted loan guidance.