Loan Management

You can download forms for any deferment or cancellation activity you anticipate—they are then submitter to the guarantor (GLHEC) upon completion.

If you have borrowed heavily, you may find it desirable to restructure your loan into something more manageable. One way to do that is to consolidate your loan into a new loan with a longer repayment period and less monthly payments. This will cost you more interest in the long run, but it may be way for you to afford your monthly payments. Additional information regarding loan consolidation can be found on the Federal web site http://studentaid.ed.gov.  Select "Repaying Your Loans" and "Repayment Information".
NOTE: You may want to exclude Perkins Loans from consolidation as discharge and cancellations provisions are lost with a Consolidation Loan.

If you would like to estimate your monthly loan payments, insert your loan particulars into a loan calculator—it's the easy way to see how much you will have to set aside each month to pay off your loan on time.

It is a good idea to make a monthly budget as you plan for your loan repayment—try out the link in this sentence for help in making a budget. Your educational loan is a fixed expense that you have already committed to, and so it should be included in your budget. Lending authorities indicate that people with written budgets have the most success managing their money.