Loan Debt

Taking out financial aid to pay for college can be a great investment. With a college education the likelihood is greater to receive a job with benefits and a reasonable pay.
Items recommended to use financial aid loan money:

  • Tuition and fees
  • Books and Supplies
  • Room and Board

Items not recommended to use financial aid loan money:

  • Jewelry
  • New Cars
  • Vacations

How to Calculate Interest

Unsubsidised loans accrue interest while you are attending school.

Principle x Interest Rate x The number of years you will not pay interest = Interest that has accrued
Example: $10,000 x 3.67% x 4 years = $1,468

Note: Subsidized loans do not accrue interest while you are attending school.

Making Loan Payments

You can change your payment plan at anytime for your federal loans.  Private loans only allows you to change your payment plan once a year.   Your service providers are not The College of St. Scholastica. To find out who your service providers are access NSLDS.ed.gov and log in with your FSA ID.  Make sure they know your address and remember to keep them up-to-date.

Different Repayment Plans

Contact Us

Tower, Room 1130 F

Savvy Saints
savvysaints@css.edu

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