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Enrollment Management | Financial Aid Services

Post-Graduation Debt Management Tips

Upon graduation, it takes time for students to get on their feet financially. If there are delays in employment after graduation, pending boards, or you are going into a residency program, here are some ways to help with your loan repayments:

Federal Loan Consolidation

Students may opt to consolidate several federal student loan payments into a single monthly payment with a fixed interest rate. Loans must be in grace or repayment to be eligible for consolidation. Several repayment options of Consolidation loans are available depending on the student’s financial situation. Before deciding to consolidate, crunch the numbers on a loan repayment calculator.

Postponing Payments

Students may apply for deferment or forbearance if experiencing difficulty in making payments on their student loans as scheduled. Deferments and Forbearance are not automatic. You must apply for them. Contact your lender for forms or more information.

  • Deferment: The borrower is not required to make payments for a specified amount of time. There are certain conditions that students have to meet to qualify for deferment.
  • Forbearance: The borrower and lender make a temporary arrangement for a specified amount of time that will either lower monthly payments or postpone payments. Forbearance is for students whose circumstances adversely affect the student’s ability to meet their loan payment obligations. However, their situation is not one which qualifies for deferment.

Loan Repayment Incentives

Students can may qualify for reduction in their interest rates or receive credits toward their total loan balance by making on time payments and participating in bank draft of loan payments. Check with your lender for more details.

Loan Repayment Programs

Depending on your program, there are some programs that will repay your loans after graduation in exchange for a service commitment.

AAMC Loan Repayment/Forgiveness/Scholarship Programs

National Health Service Corps

National Institute of Health

Indian Health Service

Nurse Corps

SC Rural Dentist Loan Repayment Program

SC Rural Physician Incentive Grant Program (MD, PA, Nursing)

Students To Service Program 

Public Service Loan Forgiveness

HRSA Faculty Loan Repayment Program


Last Published with Edits:February 21, 2017 9:27 AM
Last Comprehensive Review:February 2014

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