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For new college grads, planning for repayment is essential

Iowa College Aid Offers Repayment Resources for Recent Graduates

May 8, 2011
Toledo Chronicle, Tama News-Herald - DES MOINES- (SPECIAL) - While thousands of college seniors in Iowa are eagerly anticipating graduation and the beginning of life after college, for many, that new life will include student loan payments. To help new graduates manage their student loan debt, Iowa College Aid offers tips and resources to ensure successful student loan repayment. From locating loan holder information to selecting the right repayment plan, Iowa College Aid recommends student borrowers begin planning for repayment during the six-month grace period that typically follows graduation.

“Graduates who have borrowed student loans while in college should use their grace period to plan for repayment and position themselves for success,” says Karen Misjak, executive director of Iowa College Aid. “With all the life changes that occur following graduation, it is easy for student loan borrowers to overlook their student loans or view their grace period as an opportunity to delay thinking about repayment. Instead, graduates should be using this time to review their loans, make repayment decisions and adapt to the impact loan payments will have on their budget.”

National Student Loan Data System (NSLDS)

By visiting, student loan borrowers can view their total federal student loan debt, the status of each loan and find contact information for each of their loan holders.

Repayment Plans

Student loan borrowers have an opportunity to select the repayment plan that works best for their situation. By reviewing and selecting a repayment plan during their grace period, borrowers will have an accurate estimate of their monthly payment and can build their household budget accordingly. Additional information about repayment plans and repayment calculators are available on Iowa College Aid’s website,


Deferment and Forbearance

As borrowers near the end of their grace period, they may find they’re unable to begin repaying their student loans. In these instances, federal student loan borrowers may be eligible to postpone repayment through either deferment or forbearance. Borrowers can learn more about these options by visiting or by contacting their loan holder.

“Remaining in contact with their loan holder is one of the most important things a student borrower can do,” said Misjak. “There are many solutions for students looking to successfully repay their student loans, but borrowers must take an active role in ensuring their student loan accounts stay on track.”

For more information about saving for college, contact Iowa College Aid’s Information Service Center at 877-272-4456. In addition, more information to help Iowa families plan, prepare and pay for college is available on Iowa College Aid’s website at



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