Loan repayment

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You begin repaying Federal Direct Stafford loans six months after graduation, leaving school, or dropping below half-time enrollment. You must complete federally required Exit Counseling before you graduate from SPC, if you drop below half-time attendance, or withdraw from classes completely. Your academic records will be on hold until this is completed. 


The Department of Education offers Loan Repayment Plans and Calculators and information on loan forgiveness and cancellation.

You must repay the full amount of your loan regardless of whether you complete the program or complete within the regular time for completion, are unable to obtain employment upon completion, or are otherwise dissatisfied with or do not receive the educational or other services you purchase from the school.

There is no penalty for prepayment.

Get help with repayment 

You can call a live counselor if you have questions about your student loan repayment. Sign up for iontuition to manage your loans online.

Sample Loan Repayment Amounts 

Example:  $2880 in subsidized plus $5762 in unsubsidized loans with a 4% interest rate; Married Filing Jointly; $30,000 Adjusted Gross Income; family size of 3; living in Florida  

Repayment Plan Repayment Period Monthly Payment

Total Interest Paid

Total Amount Paid
Standard 120 months $88 to $88 $1,858 $10,500
Graduated 120 months $49 to $147 $2,319 $10,961
Income-Based Repayment (IBR) 197 months $0 to $87 $4,052 $12,694
IBR for New Borrowers 224 months $0 to $87 $4,828 $13,470
Pay As You Earn 224 months $0 to $87 $4,828 $13,470
Income-Contingent Repayment (ICR) 199 months $54 to $68 $3,366 $12,008

 Student Loan Servicer 

When your loan is due, your federal loan servicer will mail you a payment schedule with your monthly payment of principal and interest, and the unpaid balance for each month it takes to repay your total debt. If they do not contact you, you are still responsible for making payments.  Login to Federal Student Aid for find your Federal Loan Servicer.

loan servicers title 

Aspire Resources, Inc.
FedLoan Servicing (PHEAA)
Granite State – GSMR
Great Lakes Educational Loan Services, Inc.
OSLA Servicing
Sallie Mae
VSAC Federal Loans 

Federal Student Aid Ombudsman Group

 If you're in a dispute about your federal student loan, contact the Federal Student Aid Ombudsman Group as a last resort. The Ombudsman Group is a neutral, informal, and confidential resource to help resolve disputes about your federal student loans. You may also call 877-557-2575, fax 606-396-4821, or write to FSA Ombudsman Group, P.O. Box 1843, Monticello, KY  42633.

National Student Loan Data System (NSLDS)

With your FSA ID, you can access NSLDS, a national database that contains your financial aid grant and loan history from any school, including SPC. This includes grants, federal Stafford and PLUS loans, whether borrowed directly from the Federal government or a private lender. Private loans are not listed on NSLDS. NSLDS is accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Loan repayment