Graduating this December? Wondering what is next in terms of your financial aid? There are many valuable resources available to assist you with getting your loans figured out after graduation.
For Federal Direct Stafford Loans you are typically allowed a 6 month grade period after graduation. This means that repayment of your loans does not begin for 6 months, there are some exceptions. You will receive information from your loan servicers regarding your repayment plan and options. You can always visit the National Student Loan Data System (NSLDS) at https://www.nslds.ed.gov/nslds_SA/ to access your complete federal loan history, which includes information about your loan servicers.
Another great resource is the Federal Student Aid website, https://studentloans.gov/myDirectLoan/index.action. This site contains valuable information about repayment plans, repayment calculators, consolidation options, loan forgiveness, deferment options, and more. It is important for you to understand the repayment process and your options after graduation.
If you received a private or alternative student loan, through private lenders such as Wells Fargo or Sallie Mae, you will need to contact them directly for more information about repayment plans and options.
Before you graduate this December from UMBC, there are several items you need to complete:
1. The first is to submit a December Graduation Form to the Office of Financial Aid & Scholarships. The form is found online at http://www.umbc.edu/financialaid/forms.html.
2. The next step is to complete Exit Counseling. You will receive a notification to your myUMBC account with more information about completing Exit Counseling. Be sure you are checking your myUMBC account for this alert.
3. Finally, the last step is to celebrate! The Office of Financial Aid & Scholarships wishes you all the best of luck!
Congratulations to all graduates!