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What is student debt?
Student debt is caused by loans accumulated during college. Due in part to the rising cost of tuition, nearly two thirds of college seniors graduated with loan debt, averaging $26,600 (Project on Student Debt, 2011). During your education, practice responsible borrowing to minimize loan payments after graduation.
What can I expect after graduation?
Your experience repaying student debt will depend on the type of lending program in which your university participates (i.e. Direct Lending vs. FFEL) and the student aid package you received while in school. The University of Idaho is a direct lender, meaning funds are provided by the Department of Education. Nearing or closely after graduation, it is common for students to be given an exit interview. This interview, given by Financial Aid, summarizes the debt accrued during university and provides information about payment options. After graduation there is commonly a grace period (designated by the funding source) where payments are not mandatory. However, once the grace period ends, there are also options to:
- change your repayment plan;
- consolidate your loans;
- apply for deferment or forbearance; or
- request forgiveness, cancellation, or discharge of loans.
University of Idaho Financial Aid
Are you a prospective or current University of Idaho student with financial aid questions? Contact our Financial Aid department.
UI Student Loan Exit Counseling
UI Financial Aid and Scholarships provides periodic workshops and additional information for repaying student loan debt.
Managing Student Loans
This site provides information from the U.S. Department of Education on how to manage your student loans.
Federal Student Aid
As the largest provider of federal student aid in the nation, the US Department of Education provides grants, loans, and work-study funds to students attending college. Their website provides explanations and resources to guide individuals through each stage of the funding process.
Federal Student Aid - Resources
Browse through tools and informational materials created to explain your student aid.
A sponsored website including information of the full spectrum of student debt. Resources are provided for students, parents, and teachers.
Top 10 Loan Tips for Recent Graduates
Helpful and concise tips are provided to help recent graduates understand their loan repayment options.
College money handbook (Lawrenceville, N.J.) by
Call Number: Use InterLibrary Loan or Summit
Publication Date: 2001-
A quick resource and an in-depth reference that puts at your fingertips valuable information about college costs and financial aid opportunities. It contains: easy-to-use charts, tables, and lists; an overview of federal financial aid and the programs available; a guide to help you through the maze of applying for financial aid; a state-by-state description of each state-administered financial aid program; financial aid profiles of more than 1600 individual colleges.
Financing College by
Call Number: Main Stacks LB2337.4.D394 2001
Publication Date: 2005-08-01
In this book, the editors of Kiplinger’s Personal Finance magazine answer questions like: When is the right time to begin saving for college? How much will college cost—and how much will you really be expected to pay? How can you maximize financial aid? Whether you decide to attend a private college or a public university?
Student Loans by
Call Number: Main Stacks LB2340.2.S846 2012
Publication Date: 2011
Presents a collection of essays on a variety of loans for college education and discusses the advantages and disadvantages of student loans.
Rising Cost of College by
Call Number: Main Stacks LB2342.R57 2009
Publication Date: 2009-06-19
At Issue series provides a wide range of opinions on individual social issues. This volume focuses on the rising cost of tuition, offering a variety of perspectives-eyewitness accounts, governmental views, scientific analysis, newspaper and magazine accounts, and many more, to illuminate the issue.
Tuition Rising by
Call Number: Main Stacks LB2342 .E42 2000
Publication Date: 2002-10-30
Ronald G. Ehrenberg explores the causes of tuition inflation, drawing on his many years as a teacher and researcher of the economics of higher education and as a senior administrator at Cornell University. Using incidents and examples from his own experience, he discusses a wide range of topics including endowment policies, admissions and financial aid policies, the funding of research, tenure and the end of mandatory retirement, information technology, libraries and distance learning, student housing, and intercollegiate athletics.