1. Senior Loan Exit Interview Class of 2013
Repayment Strategies
for Managing Your Student Loans
Sponsored by ADEA
for U.S. Dental School Exit Interviews
Spring 2013

2. * Source: ADEA 2011 Survey of Dental School Seniors
Educational debt*
88.8% had student loan debt
$203,374 mean debt indebted graduates
$177,795 (graduates of public schools)
$245,497 (graduates of private schools)
25.2% had no debt or debt less than $100,000
29.5% had debt of $250,000 or higher
Dental school graduates known for timely and responsible repayment
Use this slide at your discretion, perhaps as a way to compare the debt of your graduating class with the national average.
Please remember this is for the Class of 2011, 2012 figures were not available the time of development of this PP.
Please remind your upcoming graduates that their colleagues before them have set a strong precedent for responsible repayment. This message is being shared with incoming students as well.
* Source: ADEA 2011 Survey of Dental School Seniors

3. Common sense approach
Know what you borrowed, who services your loans, and due dates
Identify and continually review repayment objectives and career goals
Review payment options, and loan repayment and forgiveness programs
Rights and Responsibilities, resources, and working with your loan servicers
These are the four suggested steps to cover during the presentation to seniors and all the required and suggested information should fall into these categories.
You will note that each of the four categories is highlighted in red during the PP presentation to let students know what topic you are on.

4. Common sense approach
Know what you borrowed, who services your loans, and due dates
Identify and continually review repayment objectives and career goals
Review payment options, and loan repayment and forgiveness programs
Rights and Responsibilities, resources, and working with your loan servicers
Topic one is highlighted in red.

5. terms you should know National Student Loan Data System
Direct Loans and FFEL Loans
Subsidized and unsubsidized loans
Interest accrual and capitalization
Any discussion of repayment strategy (which is what the Senior Loan Exit Interview is really all about) will be easier if your graduates understand these key terms.
The slides which follow address each of these in more detail.

6. NSLDS National Student Loan Data System www.NSLDS.ed.gov
Cumulative running total of Title IV loans
Information on loan servicers
Only Stafford, Grad PLUS, Federal Consolidation, Perkins Loans on NSLDS
Remind borrowers what is on NSLDS and what is not (Title VII, institutional, and private loans are not on NSLDS).
Share with them recent enhancements to NSLDS and that should they consolidate, NSLDS may help.
Remind borrowers that if they click on the number to the left of each loan they will find a back page with additional information, including loan servicer information.

7. direct and ffel loans Direct Loans FFEL Loans
Stafford, Grad PLUS, Consolidation “directly from federal government” (no outside private lender)
FFEL Loans
Stafford, Grad PLUS, Consolidation from a private lender*
No new FFEL loans as of academic year
Depending on when your school entered the Direct Loan Program, you can tell your borrowers how many years worth of Direct Loans they have.
Remember that even if your school has been in the Direct Loan Program for the past 4 or more years, you may have some students who had FFEL loans undergrad or post baccalaureate programs or perhaps they transferred in with FFEL loans.
Please remind borrowers that FFEL loans are NOT private loans, they are simply federal loans from a private lender.
You may want to remind them that Direct Loans will be stated as such on NSLDS (some FFEL loans are referenced as FFEL on NSLDS, others are not).
Please remind them at FFEL loans sold to the Department of Education do NOT become Direct Loans.
* FFEL Loans are NOT private loans, they are federal loans from a private lender

8. * Some portions may be subsidized, some unsubsidized
sub and unsub loans
Subsidized loans interest free to borrower during school, Grace, Deferment
Sub Stafford, Perkins, HPSL, LDS, Federal Consolidation*
Borrower responsible for all accrued and unpaid interest on unsubsidized loans
Unsubsidized Stafford, Grad PLUS, private loans, Federal Consolidation*
Self-explanatory slide.
You might remind borrowers that in all likelihood, the majority of their student loan debt is unsubsidized.
* Some portions may be subsidized, some unsubsidized

9. * Disbursed on or after July 1, 2006 ** DL and FFEL respectively
interest rates
Stafford Loans at 6.8% fixed*
Grad PLUS at 7.9% and 8.5% fixed**
Perkins, HPSL, LDS at 5% fixed
Consolidation at weighted rate rounded up 1/8th of a percent (.125%) and fixed for life of loan
Private loans tend to have variable rates
Rate on institutional loans varies
Self-explanatory slide.
Consider mentioning that borrowers thinking of an aggressive repayment strategy (paying more than the required amount of their selected repayment plan or making voluntary payments) should consider targeting the extra amount on their most expensive loan.
This also applies for borrowers who postpone payments but make voluntary payments whenever they can.
You are simply helping ensure they get the best bang for their buck.
* Disbursed on or after July 1, ** DL and FFEL respectively

10. capitalization
Process whereby accrued and unpaid interest is added back to principal
In general, occurs
At repayment
At “status” change (repayment to Forbearance, etc.)
For borrowers in IBR or Pay As You Earn, when they no longer qualify for the lower payments or when they opt out of plan
They can actually track this on NSLDS and on their loan servicer’s Web site.
Status change means moving from deferment to forbearance, forbearance to repayment, and so forth.

11. * Reported on NSLDS at www.NSLDS.ed.gov
your portfolio
Federal Stafford*
Federal Grad PLUS*
Campus-Based
Federal Perkins*, Health Professions Student Loan (HPSL), Loans for Disadvantaged Students (LDS), Institutional
Federal Consolidation*
Private
Depending on your school and your students’ portfolios, you can consider highlighting those loans where most of the borrowing occurs (likely Stafford and Grad PLUS).
* Reported on NSLDS at

12. grace periods
Period of time when you are not required to pay your loans
Grace periods are “loan specific”
Length depends on loan
Once used, do not get again
Grace periods start at Graduation or drop below half time enrollment status
This is a good place to remind them that not all loans have Grace periods and that they may have already used up a Grace period.
Loans that may be coming due immediately include: Stafford Loans whose Grace period was already used, Grad PLUS disbursed prior to July 1, 2008, and Federal Consolidation Loans.
Please do NOT refer to Grad PLUS Loans disbursed on or after July 1, 2008 as having Grace periods. Grad PLUS Loans do NOT have Grace periods, but those disbursed on or after July 1, 2008 have what operates like a Grace period but is called a “6 Month Post-Enrollment Deferment”.

13. Federal stafford loans
Subsidized and unsubsidized
No new Sub Stafford Loans for enrollment periods on or after July 1, 2012
6.8% fixed interest rate*
6 month Grace period
Deferment and Forbearance options
Multiple repayment options
Eligible for consolidation
Self-explanatory slide.
May only need to use if borrowers have questions about Stafford Loans.
* Disbursed on or after July 1, 2006

14. * Direct Grad PLUS and FFEL Grad PLUS respectively
Federal grad plus
Unsubsidized
7.9% and 8.5% fixed interest rate*
No Grace periods
6 Month “Post Enrollment Deferment” if disbursed on or after July 1, 2008
Deferment and Forbearance options
Multiple repayment options
Eligible for consolidation
Self-explanatory slide.
May only need to use if borrowers have questions about Grad PLUS Loans.
* Direct Grad PLUS and FFEL Grad PLUS respectively

15. * 6 month Post-Deferment Grace also available
Federal perkins loans
Subsidized
5% fixed interest rate
9 month Grace period*
Deferment and Forbearance options
10 year Standard level repayment
Eligible for consolidation
Self-explanatory slide.
May only need to use if borrowers have questions about Perkins Loans.
Your borrowers may still have Perkins Loans, even if your school does not participate in the program or does but the borrower did not qualify.
Please remind borrowers that for budgeting purposes, these loans will be coming due 3 months later than many of their other loans.
You might also remind them who the loan servicer is for these loans (who your school contracts with and where to go online for information and any separate Exit Counseling your loan servicer may require).
* 6 month Post-Deferment Grace also available

16. federal consolidation
Subsidized and unsubsidized
Weighted rate, fixed for life of loan
No Grace period
Deferment and Forbearance options
Multiple repayment options
Direct Consolidation only option for consolidating federal loans
Reflected on NSLDS
This can be used as a setup slide to the consolidation slides later in the presentation.
Good chance to remind borrowers who already have a consolidation loan that these will come due right after school since they have no Grace period.
NSLDS will usually show SUB Consolidation and UNSUB Consolidation (so the interest subsidy can be tracked separately in the event the borrower qualifies for a deferment), but remind borrowers it is still just one loan.

17. HPSL and LDS Subsidized 5% fixed interest rate 12 month Grace period
Deferment and Forbearance options
In general, 10 year Standard level repayment
Eligible for consolidation
Not on NSLDS
Self-explanatory slide.
May only need to use if borrowers have questions about Health Professions Student Loans and Loans for Disadvantaged Students.
Updated Student Financial Aid Guidelines (SFAG) from HRSA are now available.
Remind borrowers HPSL and LDS do not show on NSLDS.
Remind borrowers who the loan servicer is for HPSL and LDS.

18. institutional loans Subsidized or unsubsidized
Check interest rate with school
Check Grace period with school
Check Deferment and Forbearance options with school
Check repayment options with school
Not eligible for federal consolidation
Not on NSLDS
Self-explanatory slide.
May only need to use if borrowers have questions about any institutional loans you have.
Remind borrowers these loans do not show on NSLDS.
Remind borrowers who the loan servicer is for your institutional loans.

19. private loans Unsubsidized Usually variable rates
Limited repayment options
Limited Deferment and Forbearance options
Fee may be required to postpone payments
Not available for forgiveness or repayment under income-driven plans
Not on NSLDS
Self-explanatory slide.
May only need to use if borrowers have questions about private loans.
Remember they may have private loans prior to matriculating at your dental school.
Remind borrowers to confirm repayment terms, especially postponement options if their strategy is to postpone payments.
Questions borrowers should ask about their private loans include: a) what is the interest rate, is it fixed or variable (probably the latter), when is it reset, what is the index (Prime or LIBOR), how often is it reset, b) when does interest capitalize, c) what are postponement options and is there a fee to postpone payments, d) what are repayment options, e) are there discounts for ACH, f) can additional payments be targeted on principal.

20. comments on private loans
Be sure you know terms and conditions
Private loans from UG or post-baccalaureate programs can easily derail repayment strategy
They tend to have minimal, if any, postponement options for post-doctoral work
Minimal flexibility with repayment plans
Not eligible for forgiveness programs
Important slide for borrowers who have private loans that are coming due at Graduation or soon thereafter and who have limited options on them.

21. Common sense approach
Know what you borrowed, who services your loans, and due dates
Identify and continually review repayment objectives and career goals
Review payment options, and loan repayment and forgiveness programs
Rights and Responsibilities, resources, and working with your loan servicers
Topic two is highlighted in red.

22. repayment objectives Protect income, maximize cash flow
Minimize adverse impact of interest accrual and capitalization
Service to community, military, HPSA
Simplicity and convenience
Other
Remind your students that they should continually take stock of their approach to repayment.
Some will want (or need) to protect their income and either not pay or minimize student loan payments. This is likely to be someone with consumer obligations (credit card debt, car payment, mortgage, family obligations) and this borrower is likely to be interested in postponing payments or minimizing them.
Some will want to get after it (aggressive repayment) and thus minimize the adverse impact of interest accrual and capitalization.
Some may be motivated by service, especially when they understand there are loan repayment programs tied to such, and the Public Service Loan Forgiveness (PSLF) program that may help.
More than a few graduates want all their loans in one place, regardless of whether they intend to start paying or intend to postpone payments, and these borrowers are likely interested in consolidation.

23. career goals Immediate practice Private or group practice
Postdoctoral work and length of programs
Career changes
Before developing a repayment strategy, it is important that borrowers take a good look at their career goals and plans.
It is also important to remind them that these may change over the course of their career.

24. Common sense approach
Know what you borrowed, who services your loans, and due dates
Identify and continually review repayment objectives and career goals
Review payment options, and loan repayment and forgiveness programs
Rights and Responsibilities, resources, and working with your loan servicers
Topic three is highlighted in red.

25. options at repayment Start active repayment
Select repayment option based on repayment objectives and career goals and start actively repaying your loans
Postpone payments
Deferment or Forbearance
Consider starting simple with this slide, as in general, regardless of the loan type, there are two options when loans come due: start paying or postpone payments.
This all goes back to repayment objectives covered earlier.

26. options at repayment Start active repayment
Select repayment option based on repayment objectives and career goals and start actively repaying your loans
Postpone payments
Deferment or Forbearance
The red highlight simply lets your students know what topic you are about to cover.
You start with repayment (NOT postponement) because you do not want to lead with a discussion about how NOT to pay, rather you want to lead with the assumption your graduates WANT to find a plan that works.

27. * Confirm with loan servicer
repayment reminders
Notification prior to loans coming due
No penalty for aggressive repayment
Payments to interest before principal
Voluntary and additional payments may be targeted on most expensive loan*
Income-driven plans are not for everyone
Self-explanatory slide.
Strongly suggest this slide be used at some point in your presentation/workshop.
Good chance to play down (if you want to) the income-driven plans which may not be as popular with dental school graduates as with their colleagues in other health related disciplines like medicine.
* Confirm with loan servicer

28. * Stafford, Grad PLUS, Federal Consolidation
Repayment options*
Standard
Graduated
Income-driven plans, including
Income Based Repayment (IBR)
Pay As You Earn
Extended
This slide simply frames the options they will have provided to them when their loan servicer(s) notified them their loans are coming due.
Due to popularity of IBR and likely Pay As You Earn (with borrowers needing them and qualifying for them), they are indented here, but remember that other income related plans exist.
PAYE is not an approved Department of Education acronym, though you might use it in your workshop, just be sure students know loan servicers may not know that term.
* Stafford, Grad PLUS, Federal Consolidation

29. standard (level) Same payment each month
10 years for unconsolidated loans
Up to 30 years for consolidation loans
You get Standard if you do not choose
Possibly part of repayment strategy for dental school graduate with steady income moving right into practice
Important to highlight who might actually use Standard 10 year repayment.
While data is not available, you can say that ADEA believes that more than a few dental school graduates select Standard 10 year and repay in less than 10 years.

30. graduated
Payments start lower and increase by designated amounts at designated times
Total repayment higher if loan held to term
Possibly part of repayment strategy for dental school graduate with steady income moving right into practice who has other short term financial obligations to address
Important to highlight who might actually use Graduated 10 year repayment.
Some loan servicers offer interest only versions of this plan, which extends repayment.
Make a point that both amount and timing of increases is set (no surprises), will show in Disclosure Statement.

31. income-driven plans
Payments tied to income and subject to change each year
Multiple types
Lowest payments usually under IBR* and Pay As You Earn plans
Possibly part of strategy for dental school graduate with unstable income, high debt to income ratio, or in residency program**
Suggestion is not to get into the weeds of these at this point, unless you need to.
You might use the new NCHER Income Driven Repayment Chart (distributed by ADEA and available at to help explain the programs, especially IBR and Pay As You Earn.
* Income Based Repayment ** Non-school based, earning stipend

32. extended
Payments spread out for extended period, up to 25 years for unconsolidated loans
Total repayment higher if loan held to term
Possibly part of repayment strategy for dental school graduate with relatively high debt and moderate income or graduate who needs to show a lower debt-to-income (DTI) ratio when applying for a mortgage or other financing
Important to highlight who might actually use Extended repayment.
25 years is for unconsolidated loans.

33. income-driven repayment
Designed for highly indebted borrowers with low to moderate incomes
Stafford, Grad PLUS, Federal Consolidation*
Only Direct Loans may be repaid under Pay As You Earn
Possibly part of repayment strategy for dental school graduate entering residency who wants to start making payments
Separate slide due to relatively high interest in these plans with some borrowers, though more than a few dental school graduates may not qualify (if they enter practice immediately, or they may qualify but their payments may be relatively high).
Important to highlight who might be interested in income-driven plans as part of their repayment strategy.
* Consolidation may not include Parent PLUS to be eligible for these plans

34. Advantages to IBR and pay as you earn
More manageable payments
Considered “eligible” payment for PSLF*
Help with interest on subsidized loans**
Self-explanatory.
Third bullet refers to the fact that negative amortization not allowed with IBR and Pay As You Earn.
* Public Service Loan Forgiveness ** Should payments not cover interest on subsidized portion of loans, government will pick up the difference for 3 straight years

35. disAdvantages to IBR and pay as you earn
May make minimal dent in balance
Borrower must renew eligibility each year
Married borrowers may feel a pinch
Spousal income counted under both plans for married borrowers filing a joint return
Self-explanatory slide.
Eligible educational debt of spouse will be considered in determining eligibility for these plans for married borrowers filing joint returns.

36. repayment takeaways
Multiple options on federal loans, minimal options on private loans
Income-driven plans not for everyone
You may switch repayment plans with few restrictions*
No penalty for early payment
may help
Important to highlight who might actually use Extended repayment.
25 years is for unconsolidated loans.
Remind students there are calculators on the Web site listed
* Check with your loan servicer

37. Repayment assumptions*
$162,000 Federal Stafford at 6.8%
$8,500 Sub Staffords years 1 and 2 only, remainder Unsubsidized Stafford
Remainder of portfolio in Grad PLUS
FFEL Grad PLUS at 8.5% years 1 and 2
Direct Grad PLUS at 7.9% years 3 and 4
6 month Grace or “Post-Enrollment Deferment” on all loans
Self-explanatory slide.
Be sure to reference BEFORE showing any of the next slides, and if you use your own repayment slides, be sure to share assumptions behind the numbers.
* Debt figures courtesy of ADEA Survey of Dental School Seniors, Class of 2011; only Standard and Extended shown due to variations in Graduated and income-driven plans

38. repayment at $203,374* Standard (10 year) Extended (25 year)
$2,772 per month
$332,697 total repayment**
$129,323 total interest
Extended (25 year)
$1,696 per month
$509,052 total repayment**
$305,678 total interest
* Mean debt all dental schools ** Assumes loan held to term (entire repayment period used)

39. repayment at $177,795* Standard (10 year) Extended (25 year)
$2,380 per month
$285,730 total repayment**
$107,935 total interest
Extended (25 year)
$1,445 per month
$433,653 total repayment**
$255,858 total interest
* Mean debt public dental schools ** Assumes loan held to term (entire repayment period used)

40. repayment at $245,497* Standard (10 year) Extended (25 year)
$3,417 per month
$410,042 total repayment**
$164,545 total interest
Extended (25 year)
$2,110 per month
$633,216 total repayment**
$387,719 total interest
* Mean debt private dental schools
** Assumes loan held to term (entire repayment period used)

41. * Reported on NSLDS at www.NSLDS.ed.gov
consolidation
Paying off or “refinancing” multiple loans with one new loan
Loans you are consolidating are gone
Not the same thing as “combined” billing
Direct Loans only option for federal loans
Minimal options for private loan consolidation
No need to reinvent the wheel, consider having the Consolidation Primer from ADEA (released in February 2013) for your graduates.
Consider mentioning that due to the Department of Education’s conversion initiative (moving ED owned loans under one servicer), borrowers may have FFEL loans previously sold to ED (called PUT loans) and Direct Loans (obviously owned by ED) under one loan servicer.
This allows the servicer to provide one billing statement for borrowers but that is NOT the same thing as consolidation (and PUT loans are NOT Direct Loans).
* Reported on NSLDS at

42. * Only Direct Loans are eligible for Public Service Loan Forgiveness
possible advantages
Simplicity and convenience
Converts non-Direct Loans into Direct Loans (may help maximize PSLF* eligibility)
May extend repayment term
See previous slide regarding simplicity and convenience.
Remind borrowers of downside of extending repayment (should loan be held to term).
* Only Direct Loans are eligible for Public Service Loan Forgiveness

43. possible disadvantages
Partially negates aggressive repayment strategy
Lengthy and possibly cumbersome process
Loss of Grace periods if consolidate too early
Usually higher rate
Perkins, HPSL, LDS lose interest subsidy
First bullet is extremely important, especially use of the word “partially”. Borrowers may always repay a federal loan (including consolidation) early without penalty, but once they consolidate, they cannot target extra money on their most expensive loan (assuming they consolidated everything).
Should a borrower ask, you cannot have two outstanding consolidation loans/applications at the same time. Someone who wanted to consolidate Stafford and Grad PLUS separately can do so, but they would have to wait a) for the first consolidation loan to go through and then b) 180 days (window period for adding loans) before submitting other application (meanwhile other loans must be kept in Good Standing).
Be sure borrowers understand they are not locking in a LOW rate (unless they consolidate only Stafford Loans taken out prior to July 1, 2006).

44. * Public Service Loan Forgiveness
are you a candidate?
Probably a candidate if
You have multiple loans servicers
You have NON-Direct Loans and are interested in PSLF*
Probably NOT a candidate if
You have one loan servicer
You have no interest in PSLF*
New slide you may find useful.
* Public Service Loan Forgiveness

45. service commitment programs
Public Service Loan Forgiveness
Armed Forces Repayment Programs
Faculty Loan Repayment Program
Federal Student Loan Repayment Program
Indian Health Service
National Health Service Corps
National Institutes of Health
Web sites are available in Chapter 4 of the ADEA Official Guide to Dental Schools.
Explain the difference between a forgiveness program (balance is forgiven if certain conditions are met) as compared with a repayment program (some payment is made against a borrower’s loans in exchange for service).

46. service commitment programs
Public Service Loan Forgiveness
Armed Forces Repayment Programs
Faculty Loan Repayment Program
Federal Student Loan Repayment Program
Indian Health Service
National Health Service Corps
National Institutes of Health
The red highlight simply lets your students know what topic you are about to cover.
You are covering this because there seems to be so much interest in PSLF.

47. public service loan forgiveness
Designed to provide help for borrowers who are committed to public service
Forgives remaining balance after designated period of time if certain conditions are met
Only Stafford, Grad PLUS, Consolidation Loans through Direct Loan program qualify
Remind borrowers that PSLF has NOTHING to do with their being in dentistry, as PSLF is for any borrower meeting the requirements for PSLF.

48. PSLF eligibility requirements
Only Direct Loans quality
Borrower must make 120 “eligible” payments (only payments made under ICR, IBR, Pay As You Earn, and Standard 10 year qualify)
Borrower must be working in eligible public service position each time an eligible payment is made on eligible loans
Self-explanatory slide.
Eligible is highlighted in red to drive home the three requirements.

49. PSLF update
Information available at
Employment Certification Form available to help track employment
FedLoan Servicing designated loan servicer for PSLF program
Respectful suggestion that you read the Dear Borrower letter on the Web site prior to any discussion about PSLF.
VERY IMPORTANT POINT: Per the Department of Education, if a borrower submits the Employment Certification Form, their loans will be moved to FedLoan Servicing if FedLoan Servicing deems their place of employment does qualify; this happens regardless of where the loans were serviced previously. This is all the more reason to stress the importance of keeping address information current.

50. options at repayment Start active repayment
Select repayment option based on career goals and repayment objectives and start actively repaying your loans
Postpone payments
Deferment or Forbearance
The red highlight simply lets your students know what topic you are about to cover.
The recent slides talked about the option of paying on student loans when they come due. This section discussed how to postpone payments.

51. deferment Subsidized loans interest free to borrower
Must meet statutory requirements
Borrower remains in “Good Standing”
In-School Deferment only available to graduates enrolled at least half time in postdoctoral school-based residency program (Registrar must certify enrollment)
Check promissory note for Deferment options on non-federal loans
Consider referring borrowers to their loan servicer for detailed information on deferments.
Please note bullet 4, recently confirmed by ADEA.
Deferment helps protect credit, but unlikely to improve or build credit.

52. Forbearance Interest accrues on all loans
Servicers have some discretion
Borrower remains in “Good Standing”
Mandatory Internship Residency Forbearance available for dental residents
Administrative (also called Verbal) Forbearance may be available
Often used when shorter period of time needed for Forbearance
Forbearance helps protect credit, but unlikely to improve or build credit.
Borrowers should find out if there is a fee to forbear private loans.

53. Common sense approach
Know what you borrowed, who services your loans, and due dates
Identify and continually review repayment objectives and career goals
Review payment options, and loan repayment and forgiveness programs
Rights and Responsibilities, resources, and working with your loan servicers
Topic four highlighted in red.

54. borrower rights Written explanation of loan obligations
Explanation of default and consequences
Copy of MPN and return when paid in full
Disclosure statement prior to repayment
Be notified when your loan is sold
Federal subsidy, if eligible
Forgiveness and discharge, if eligible
May request Forbearance, if needed
Prepay without penalty
Self-explanatory, but note there are a number of items referenced here which should at least be mentioned in a Senior Loan Exit Interview.

55. borrower responsibilities
Attend Exit Interview before you graduate
Repay loan according to schedule
Notify loan servicer regarding:
Anything impacting ability to repay
Change in status, including graduation date
Change in name and contact information
Change in enrollment
Self-explanatory, but note there are a number of items referenced here which should at least be mentioned in a Senior Loan Exit Interview.
Consider placing emphasis on notifying loan servicers of new address and/or contact information and importance of such, especially if loan servicer(s) are trying to reach borrower.

56. resources Your Financial Aid Office Your loan servicer’s Web site
See
Direct Loan Servicer at
Information on Stafford, Grad PLUS, Federal Consolidation, and Perkins Loans
Information from ADEA you may find helpful
Self-explanatory.

57. resources www.studentaid.ed.gov/repay-loans/understand/plans
Details on repayment plans, with calculators
Information on Income Based Repayment, including calculator and important links
Eligibility requirements for Deferment and Forbearance
Self-explanatory.

58. resources www.studentaid.ed.gov/repay-loans/understand/servicers
Information on loan servicers, including contact information
Information on Public Service Loan Forgiveness program and Employment Certification form
Loan servicing site listed again for effect.

59. resources www.loanconsolidation.ed.gov www.irs.gov/publications/p970
Online application, forms, and FAQs
Tax benefits for education, including information on Student Loan Interest Deduction
Self-explanatory, and required for Senior Loan Exit Interviews.

60. loan servicer
Organization lender contracts with to work with you in repayment
Listed on NSLDS for Stafford, Grad PLUS, Federal Consolidation, Perkins
Click on number to left of each loan on front page account summary for back page
Loan servicers required to notify you if they are servicing your loans
Regardless of your time allotment for the presentation/workshop, try and work this slide in.
Reference the Servicing Primer from ADEA, released in February 2013.

61. working with loan servicers
Always document calls and correspondence
Confirm receipt of applications and related documents
Ask about anecdotal comments on file
Speak with supervisor if needed
Bullet three simply means borrowers might consider asking if the person they are talking to is taking notes of the conversation, as they might be needed later.

62. working with loan servicers
Semantics are important
Confirm all actions referenced by servicer
Open and read your mail
Have NSLDS record handy if possible
Semantics are HUGE when talking with a servicer (example: borrowers may call and say they have a private loan, thinking their FFEL loan is a private loan, something addressed earlier: this can send the discussion down the wrong path from the outset)

63. United States Department of Education
ombudsman office
United States Department of Education
Federal Student Aid
Self-explanatory and required for Senior Loan Exit Interviews.

64. summary and to do list Loan inventory and decision points
Self assessment (repayment objectives and career plans)
Choose options that work for you
Keep in touch with loans servicers and keep contact information current
Keep the repayment bar high for colleagues
Always close with a summary of some kind.
Once again, please place emphasis on the high standard of responsible repayment dental school graduates are currently known for.

65. Questions?
Perhaps none by now, you blew them away!

66. American Dental Education Association (ADEA)
congratulations
Best Wishes from the
American Dental Education Association (ADEA)