1. Module Number 1 Common Sense Steps to Selecting a Repayment Strategy
Paul S. Garrard
Founder and President, PGPresents, LLC
Independent Student Loan Consulting
Spring 2019
2019 PGPresents, LLC - All Rights Reserved

2. Common sense steps
Know what you borrowed, who has your loans, and when they come due
Identify and constantly review your repayment objectives
Select repayment plan that meets those objectives, and know how to shift gears as needed

3. Step 1: Loan portfolio Federal loans at NSLDS.ed.gov*
Information on loan servicers
One servicer for federally owned loans
Different servicer for campus-based loans (see FAO** for help)
See credit report or FAO for student loans not listed on NSLDS
Private loans are not listed on NSLDS
* Direct Unsubsidized, Direct PLUS (Grad PLUS), Direct Consolidation, Perkins ** Financial Aid Office

4. Sample loan portfolio Direct Unsubsidized (Stafford)
Different fixed rates on each loan
6 month grace*
Direct PLUS (Grad PLUS)
6 month “post enrollment deferment”
Campus-based loans**
Private loans (see disclosure statement)
* You only get grace period one time, but must use entire 6 months to lose it ** Perkins, Loans for Disadvantaged Students, Primary Care Loans, loans from institution

5. Step 2: Repay objectives
Aggressive repayment
Secure manageable plan and overpay on worst loan whenever you can
Protect cash, maximize cash flow
Postpone or use income plan to keep payments manageable
Maximize forgiveness with PSLF*
Use income plan with no aggressive payments
Service commitment support**
Be sure to consider tax implications
* Public Service Loan Forgiveness (see ** Loan repayment help from NHSC, NIH, armed forces, state programs

6. Step 3: Choose plan* Time driven Income driven
Payments not based on income or family size
Debt free at end of term with minimum payments
Standard 10 year and Extended 25 year
Level and graduated plans available
Income driven
Payments based on income and family size
Payments change annually
PAYE and REPAYE are newest plans
* Direct Unsubsidized, Direct PLUS (Grad PLUS), Direct Consolidation

7. Summary
Know what you borrowed, who has your loans, and when they come due
Identify and constantly review your repayment objectives
Select repayment plan that meets those objectives, and know how to shift gears as needed

8. PGPresents, LLC Independent Student Loan Consulting www.PGPresents.com
END OF MODULE 1
PGPresents, LLC
Independent Student Loan Consulting
2019 PGPresents, LLC - All Rights Reserved