{"id":965,"date":"2022-02-24T20:09:54","date_gmt":"2022-02-24T20:09:54","guid":{"rendered":"https:\/\/www.purdue.edu\/dfa\/?page_id=965"},"modified":"2026-03-23T13:54:25","modified_gmt":"2026-03-23T13:54:25","slug":"faq","status":"publish","type":"page","link":"https:\/\/www.purdue.edu\/dfa\/aid\/loans\/faq\/","title":{"rendered":"Loans FAQ"},"content":{"rendered":"<div  class=\"purdue-home-cta-banner purdue-home-teritary-hero \">\n        <div class=\"section has-none-background has-padding-top-large has-padding-bottom-large \">\n        <div class=\"container\">\n            <h1 class=\"second-level-page-heading purdue-home-teritary-hero__header\">Frequently Asked Questions<\/h1>\n            <div class=\"purdue-home-teritary-hero__content\">\n                \n\n<p class=\"wp-block-paragraph\"><\/p>\n\n            <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n<div  class=\"section has-padding-top-none  page-layout-wide\">\n    <div class=\"container\">\n                \n\n<div class=\"wp-block-columns page-layout-columns columns is-multiline is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column column is-full-tablet page-layout-main is-layout-flow wp-block-column-is-layout-flow\">\n<h2 class=\"wp-block-heading\"><strong>Outreach to Former Students to Prevent Defaults<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The U.S. Department of Education recently resumed collections on defaulted federal student loans. The Department has also initiated a campaign to remind all borrowers of their repayment obligations, and to provide resources and support to assist them in selecting the best repayment plan. It is the primary responsibility of the borrower to repay their student loans, and our office is providing the reminders below to prepare both previous and current student borrowers for repayment of their federal student loans.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Borrowers are obligated to repay any federal student loans that have not been repaid and are not in&nbsp;<a href=\"https:\/\/studentaid.gov\/manage-loans\/lower-payments\/get-temporary-relief\" target=\"_blank\" rel=\"noreferrer noopener\">deferment or forbearance<\/a>.<\/li>\n\n\n\n<li>Borrowers should review information on&nbsp;<a href=\"https:\/\/nam04.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fstudentaid.gov%2F&amp;data=05%7C02%7Creseigh%40purdue.edu%7Cc66c67b5cd704ecce41508dd8e755f65%7C4130bd397c53419cb1e58758d6d63f21%7C0%7C0%7C638823356955201240%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=5%2BVovD0RrCqtsKruKP9%2FuTN4WKed7Gp9Y7gdrFkEIuU%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">StudentAid.gov<\/a>&nbsp;about&nbsp;<a href=\"https:\/\/studentaid.gov\/manage-loans\/repayment\/repaying-101\" target=\"_blank\" rel=\"noreferrer noopener\">repayment<\/a>&nbsp;options.<\/li>\n\n\n\n<li>Borrowers should&nbsp;<a href=\"https:\/\/nam04.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fstudentaid.gov%2Ffsa-id%2Fsign-in%2Flanding&amp;data=05%7C02%7Creseigh%40purdue.edu%7Cc66c67b5cd704ecce41508dd8e755f65%7C4130bd397c53419cb1e58758d6d63f21%7C0%7C0%7C638823356955214086%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=Ko%2F48S6Asd59JAQAQvLKcgWzCdDUfKBcp7PD0WsmWlE%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">log into StudentAid.gov<\/a>&nbsp;using their StudentAid.gov username and password to update their profile with current contact information and ensure that their loans are in good standing. Borrowers may reset a username and password (FSA ID) if&nbsp;<a href=\"https:\/\/studentaid.gov\/help-center\/answers\/article\/message-saying-my-fsa-id-is-locked-or-disabled\" target=\"_blank\" rel=\"noreferrer noopener\">locked<\/a>,&nbsp;<a href=\"https:\/\/studentaid.gov\/help-center\/answers\/article\/what-if-my-fsa-id-was-lost-or-stolen\" target=\"_blank\" rel=\"noreferrer noopener\">lost or stolen<\/a>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Borrowers should contact their&nbsp;<a href=\"https:\/\/studentaid.gov\/manage-loans\/repayment\/servicers\" target=\"_blank\" rel=\"noreferrer noopener\">loan servicer<\/a>&nbsp;with questions on repayment plans or loan&nbsp;<a href=\"https:\/\/studentaid.gov\/loan-consolidation\/\" target=\"_blank\" rel=\"noreferrer noopener\">consolidation<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Borrowers should&nbsp;<a href=\"https:\/\/studentaid.gov\/help-center\/contact\" target=\"_blank\" rel=\"noreferrer noopener\">contact<\/a>&nbsp;the U.S. Department of Education with additional loan repayment questions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">General Repayment Questions&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: Who do I repay?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Your lender or a loan servicer&nbsp;is responsible for&nbsp;billing and receipt of payments. Many&nbsp;times,&nbsp;a lender will hire a company to perform the billing functions for its loans, and this company is referred to as a loan servicer. You can contact your lender or loan servicer for information.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: When do I start repayment?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: You may be entitled to one 6-month grace period after you stop attending a school at least half time; however,&nbsp;there are variable grace periods depending&nbsp;on your&nbsp;individual&nbsp;situation \u2013 check with your servicer for more information. During this grace period, the lender or loan servicer will contact you and tell you how much your payments&nbsp;will be&nbsp;and how to make them. If you go back to school, you can obtain a deferment so you can temporarily postpone&nbsp;payments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: Can Purdue answer my loan questions after I graduate?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: We can help you with general questions, but the best source for you to contact is your loan servicer.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: Where and when will I receive information about payments due?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Your loan servicer or lender must provide you with a loan repayment schedule that states when your first payment is due, the number and frequency of payments, and the amount of each payment. Keep in mind that your loan may have a grace period. You will receive this information sometime after you graduate. If you have graduated and have not received information from your servicer within a few months, you should contact your servicer to make sure they have your current information such as email and mailing address.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: What type of assistance is available once I start repayment?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Your lender or loan services can answer almost all loan repayment questions.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"loan-servicer-information\">Loan Servicer Information&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: What is the difference between a lender and&nbsp;a&nbsp;servicer?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: The lender&nbsp;provides&nbsp;the money for the loan. A&nbsp;<a href=\"https:\/\/studentaid.gov\/manage-loans\/repayment\/servicers\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>loan servicer<\/strong><\/a>&nbsp;is a company that handles the billing and other services on your&nbsp;Federal&nbsp;student loan. The loan servicer will work with you on&nbsp;<a href=\"https:\/\/studentaid.gov\/manage-loans\/repayment\/plans\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>repayment plans<\/strong><\/a>&nbsp;and&nbsp;<a href=\"https:\/\/studentaid.gov\/app\/launchConsolidation.action\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>loan consolidation<\/strong><\/a>&nbsp;and will&nbsp;assist&nbsp;you with other tasks related to your&nbsp;federal&nbsp;student loan. It is important to&nbsp;maintain&nbsp;contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: How do I know who my servicer is?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Your loan is assigned to a loan servicer by the U.S. Department of Education after the entire loan amount is disbursed. The loan has been disbursed when your school transfers your loan money to your school account, gives money to you directly or a combination of both. Your loan is usually disbursed into at least two payments, provided it is an academic year loan. If you are borrowing for one semester, you will receive one payment. The servicer(s) assigned to any Federal loans you borrowed will be listed on the&nbsp;<a href=\"https:\/\/studentaid.gov\/h\/manage-loans\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Federal Student Aid<\/strong><\/a>&nbsp;website.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"borrowing-history\">Borrowing History&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: What if I disagree with the total amount that I owe or loans that I\u2019ve borrowed?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: You should first identify your loan problem, and then contact your loan servicer. If you are unable to agree on the amounts after contacting your servicer you have additional options. For more detailed information&nbsp;<a href=\"https:\/\/studentaid.gov\/help-center\/answers\/article\/how-to-contact-ombudsman-group\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>contact<\/strong><\/a>&nbsp;the&nbsp;<a href=\"https:\/\/studentaid.gov\/help-center\/answers\/article\/how-can-the-ombudsman-group-help-me\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Federal Ombudsman Group<\/strong><\/a>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: Where can I obtain a copy of&nbsp;all&nbsp;the loans I borrowed?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Federal loans you may have borrowed while in school will be listed at&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/studentaid.gov\/h\/manage-loans\" target=\"_blank\"><strong>Federal Student Aid<\/strong><\/a>. Any Graduate or Parent PLUS&nbsp;Loans&nbsp;and Perkins loans will also be listed. Purdue loans and private loans will not be listed on this website.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: How do I know how much I\u2019ve borrowed and&nbsp;must&nbsp;repay?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Visit the&nbsp;<a href=\"https:\/\/studentaid.gov\/h\/manage-loans\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Federal Student Aid<\/strong><\/a>&nbsp;website to view information about&nbsp;all of&nbsp;the Federal student loans you have received and to find contact information for the loan servicer or lender for your loans. You will need your&nbsp;<strong><a href=\"https:\/\/studentaid.gov\/fsa-id\/create-account\/launch\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Student Aid Account Username\/Password<\/a>&nbsp;(formerly FSA-ID<\/strong>)&nbsp;to access your information.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"exit-counseling\">Exit&nbsp;Counseling&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: Do I have to complete exit counseling if I am starting another program\/degree at Purdue in the semester following graduation?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: Yes. You will need to complete Exit Counseling at this time and then, if needed, process an in-school deferment (if you want to postpone repayment of your loans) once you are registered as a graduate student or have been enrolled for another program.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: Which loan requires exit counseling?<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A: If you had a&nbsp;<strong>Subsidized, Unsubsidized or Graduate PLUS loan<\/strong>, you have&nbsp;30 days&nbsp;after graduation to complete this federal requirement. You&nbsp;are also required to&nbsp;complete exit counseling for any Perkins or Purdue loans. These two loans are serviced by ECSI, a&nbsp;third-party&nbsp;servicer specifically for loans awarded to Purdue students.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"loandenied\">Options if your Parent PLUS loan is denied<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q: What if the Parent PLUS loan is denied?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A:&nbsp;<strong>The student can receive an additional Unsubsidized Federal Direct Loan.<\/strong>\u202fUnless you indicated on your application that you are planning to pursue the endorser option, your student will automatically be reviewed for the additional Unsubsidized Federal Direct Loan. If eligible, an offer for the additional Unsubsidized Federal Direct Loan of $4,000-5,000 (dependent upon grade level) will appear on their myPurdue account within 7-10 days. If your student wants this loan, they must accept it online.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A:&nbsp;<strong>The parent can appeal the credit decision with the Federal Direct Loan Center.<\/strong>\u202fThis process will require the parent borrower to complete Parent PLUS Credit Counseling at the studentloans.gov website. If you appeal the credit decision with the Federal Direct Loan Center and are granted a credit override, please email facontact@purdue.edu and include the loan application number, any reference number given to your case by the Direct Loan servicer and your student\u2019s Purdue ID (PUID) number.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A:&nbsp;<strong>The parent can apply with an endorser.<\/strong>\u202fCurrently, Purdue only receives notifications of approved endorsed loans if the endorser application was completed electronically. Endorsed loans require manual intervention, so if you have completed a paper endorser application, you <strong>must <\/strong>email <a href=\"mailto:facontact@purdue.edu\">facontact@purdue.edu<\/a> and include the loan application number, any reference number given to your case by the Direct Loan servicer and your student\u2019s PUID. Providing the above information may speed up processing if you submitted your endorser application electronically.&nbsp;<\/p>\n<\/div>\n<\/div>\n\n    <\/div>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":24,"featured_media":0,"parent":676,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"class_list":["post-965","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/pages\/965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/comments?post=965"}],"version-history":[{"count":18,"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/pages\/965\/revisions"}],"predecessor-version":[{"id":6189,"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/pages\/965\/revisions\/6189"}],"up":[{"embeddable":true,"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/pages\/676"}],"wp:attachment":[{"href":"https:\/\/www.purdue.edu\/dfa\/wp-json\/wp\/v2\/media?parent=965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}