Making Payments

Loan holders will send a repayment disclosure to student loan borrowers prior to their first due date. This document informs borrowers about the total amount they borrowed from that loan holder, the current interest rate, the monthly payment amount, the number of months in the repayment period, the scheduled payment due date, and the total amount of principal and interest that will be paid if the repayment schedule is followed. Borrowers are required to begin making payments immediately after the end of the grace period, whether they have received a repayment disclosure statement or not.

Make Payments During the Grace Period

Although borrowers are not required to make payments during their grace period, doing so saves them money by reducing the total amount of interest paid over the life of the loan. By making payments during the grace period, borrowers can reduce or eliminate the amount of interest added to the principal balance of their Unsubsidized Stafford Loans when they enter repayment. Any payments that exceed the amount of interest accrued may be applied to the principal balance of their loans.

Repayment Plans

The right repayment plan can make a difference in a borrower's ability to make student loan payments.

Payment Options

There are many ways for borrowers to make student loan payments including Direct Debit, online, by phone, and/or by mailing in payments with a billing statement. Borrowers should contact their loan holder for information about ways to pay. Borrowers can locate information about their current loan holder through the National Student Loan Data System (NSLDS) by visiting,


Tip: Any borrower experiencing difficulty making on-time payments should immediately contact their loan holder to discuss alternatives to missing a payment.

Printed from the Iowa College Student Aid Commission website on March 25, 2018 at 12:32am.