Paying What You Owe

Paying your bills on time is essential to good money management. That includes life's necessities, like rent, utilities, and insurance, which are due regularly. You also have to pay your credit card bills and other debts. Each of those should be an item in your budget.

If you are repaying student loans, or will begin soon, keeping them up-to-date is at the top of the list. Each type of loan has its own repayment terms, and it's your responsibility as the borrower to be sure you understand what they are.

For a summary of how you repay federal student loans, you can go to the loan section of this site.

For private loans or loans from your college or university, check with your lender.

Once you've chosen a loan repayment plan, you'll know how much you need to budget each month for this expense. If you go back to school at least half-time after you've started repaying a loan, you may request an in-school deferment.

Learn more about deferments, plus an overview of other potential ways to postpone repayment or qualify for loan cancellation, forgiveness, or discharge.
If you have questions about your loan, what you owe, or how to pay, check with the loan holder or loan servicer. You can find them in the National Student Loan Data System at