1. STUDENT LOAN ORGANIZATION SARA HONECK – DIRECTOR OF STUDENT FINANCIAL AID

2. STUDENT LOAN ORGANIZATION What have you borrowed? What might your repayment look like?

3. HOW MUCH HAS BEEN BORROWED NSLDS.ED.GOV – Federal loans Contact lenders for private loans KU Endowment – 1.800.444.4201 SA.KU.EDU – History of loans at KU/KUMC

4. HOW MUCH HAS BEEN BORROWED nslds.ed.gov Save this to your computer

5. FEDERAL LOAN SERVICER INFORMATION nslds.ed.gov

6. REPAYMENT CALCULATORS Studentloans.gov

7. STUDENTLOANS.GOV Once logged in, you will be given information on estimated loan repayment amounts based on federal loans and different repayment options.

8. REPAYMENT ESTIMATOR  Gives a quick snapshot of monthly payments for each qualifying repayment plan based on $101,722 in debt  Compare interest paid over the life of each repayment plan Must qualify for these repayment plans

9. INCOME BASED REPAYMENTS PLANS Repayment amount is based on your income 20-25 year repayment periods, but you will not pay more than you would under the Standard 10 year repayment plan Two different calculations based on the date of your oldest loan that is still in repayment Generally uses information on your tax return – if married, you should check with a tax accountant to determine if it is best for you to file “married filing jointly” or “married filing separately” Any remaining loan balance if forgiven if your federal student loans are not fully repaid at the end of the given repayment period You may be required to pay taxes on what is forgiven, but as always please check with a Tax Accountant

10. INCOME DRIVEN REPAYMENT PLANS

11. MEDLOANS  ORGANIZER AND CALCULATOR  AAMC.ORG  Use AAMC login information  No charge for medical students  ORGANIZER  Allows you to track all of your loans  CALCULATOR  Calculates different loan repayment scenarios based on loan information in the organizer

12. MEDLOANS  ORGANIZER AND CALCULATOR

13. Add each loan individually Note interest rates! Include all loans- not just federal Easiest and most accurate way to enter in your loan history Only Federal loans

14. MEDLOANS  ORGANIZER AND CALCULATOR

15. Next Step

16. MEDLOANS  ORGANIZER AND CALCULATOR Options during residency: Income-Based Repayment, Forbearance, Pay As You Earn (PAYE), or start full repayment

17. $ALT Free resource for students through the AAMC Offers helpful articles, videos, and tools for loan repayment, scholarship searching, and managing debt while in school My Money 101: video series with complementary tools and worksheets for topics like budgeting, risk management, and taxes

18. THANK YOU Student Financial Aid G035 Dykes Library Monday – Friday 8:00 am - 5:00 pm 913.588.5170 financialaid@kumc.edu www.aamc.org www.saltmoney.org