Before borrowing Federal Student Loans, it is important that you understand your rights and responsibilities. We encourage all students to research and understand responsible borrowing and repayment before requesting a student loan.
The (opens in a new window) provides a loan simulator that can help you estimate your future loan repayments.
Several repayment plans are available. You should discuss these options with your loan servicer to determine which plan is most suitable for your circumstances. If you do not choose a repayment plan, you will automatically be placed on the Standard Repayment Plan, which typically involves fixed monthly payments over a period of up to 10 years.
You can find details of your loan servicer on the (opens in a new window).
Entrance and Exit Counselling
Completion of Entrance Counselling and Exit Counselling is a requirement of your Federal Loan agreement.
- Entrance Counselling should be completed before you begin your programme at the 51cg.
- Exit Counselling should be completed when you are approaching the end of your studies, are taking a break in your studies or are no longer eligible for Federal Loans .
These sessions provide important information about loan repayment, money management, and the steps you need to take before and during repayment.
Loan Repayment and Default
Your student loans must be repaid.
If you fail to make the required repayments, your loans may enter default. If you are experiencing difficulties meeting your repayment obligations, you should contact your loan servicer as soon as possible to discuss the options available to you.
Further Information
Useful guides on loan repayment and default:
- : Repaying Your Loans (opens in a new window)
- : Delinquency and Default (opens in a new window)
- (opens in a new window)