Congratulations to all of our UNC graduates! Now that finals are done and the cap and gowns have come off, it’s time to think about your financial aid and how to pay back your student loans.

Below are a few tips to help you plan for a stress-free loan payment future.

Don’t procrastinate.

Contact your loan servicer provider. They will help you find a loan repayment option that best fits your needs. Log into www.nslds.gov to find out who your loan servicer is and how much you owe.

Pay a little extra per month.

Paying a little extra, even just a few more dollars than scheduled will help reduce the total amount of your loan interest and the time it takes to pay it back.

Automatic debit.

Enrolling in an automatic debit will help relieve the stress of getting the loan paid on time and some lenders can reduce your payments because you are enrolled in it.

It’s important to know when to start making repayments. 

Loans don’t need to be repaid until six months after the last day of the semester. However, if you have already used your six month grace period, the loans may go into repayment right away. 

Repayment options are there if you need them.

There are several repayment options, loan consolidation and loan forgiveness information is found at studentaid.gov. 

Save. Save. Save.

Saving a little bit of money to the side to make an extra payment on your loans can cut the repayment time down. 

For more information about financial aid you can visit the Financial Aid Office at the Campus Commons.