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Repayment Issues

Federal Direct Student Loans are real loans, like a car loan or a mortgage, that require repayment. Repayment for your student loans begins six months after you graduate with a degree or drop below half-time enrollment at Indiana Tech. Like other loans, your servicer expects a monthly payment regardless of your financial health. Unlike other loans, however, your student loans have more repayment options available to help you make your monthly payment less of a burden.

If you find that you are struggling to make your payments on time, or perhaps cannot afford your full monthly payment, do not stop making payments on your loans. If you don’t make your monthly loan payments, you will become delinquent on your student loan and risk going into default. Defaulting on a student loan has serious consequences; you can lose your eligibility for future financial aid, be subject to wage garnishment, your credit score and report will be damaged; and you may even face legal action against you by your loan holder.

Instead, contact your loan servicer right away. They can help you find the repayment option that best fits your needs and help you avoid delinquency and default.  If you are unsure who your loan servicer is, please contact the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243

For more information on the various repayment options available for your student loans, please visit Federal Student Aid.



If you begin missing payments on your loans, you will be contacted by your loan servicer as well as a service we use called Student Connections.  They will work with you in order to get your account back in good standing and aid you in setting up a repayment plan that best works for you.  If you ever receive a call from someone else, please notify our office so we can help you gauge the legitimacy of the outreach.