Loan Repayment

Debt Management Options

Loan Forgiveness

Loan Consolidation

Loan Repayment Plans

Loan Deferment/Forebearance

 
Additional Tool:

CashCourse: This Wheelock partner website helps students navigate their finances, including understanding loans.

Repayment: What to Expect

How to Manage Your Student Loans

Contact Us

Office Hours:
Mon. - Fri., 9 a.m. - 5 p.m.
Phone: 617-879-2443
Fax: 617-879-2470
Email: finaid@wheelock.edu

Although you may select or be assigned a repayment plan when you first begin repaying your federal student loans, you can work with your loan servicer to change repayment plans at any time. For private loans, you should check with your lender to determine your repayment options.

Not sure what type of loans you have or how much you borrowed?

Federal Stafford and PLUS Loans: You can get information about all of the federal student loans you have received and find the loan servicer for your loans using the National Student Loan Data System (NSLDS®).

Federal Perkins Loans: Contact Wheelock's Perkins loan servicer ACS/Xerox at 800-826-4470 or view your loan borrowing history at www.acs-education.com. You can also get information about all of the federal student loans you have received using the National Student Loan Data System (NSLDS®).

State Loans: Contact the Massachusetts No Interest Loan Program at 617-391-6070 or view your loan borrowing history at www.ecsi.net/bwr/borrower.html. Contact other state loan programs through the higher education department of your state government.

Private Loans: Contact your private lender via the contact information provided when your loan was approved.

Wheelock Loans: Contact Wheelock's loan servicer ACS/Xerox at 800-826-4470 or view your loan borrowing history at www.acs-education.com.

Federal Repayment Plans

A number of federal repayment plans allow you to stretch out or lower your payments based on your income, family size, or other factors. Some of these plans also provide for loan forgiveness after a certain number of payments. However, you should keep in mind that there may be tax implications to these plans and that stretching out your loan payments can mean you will pay more for your loan over time than under the standard 10-year plan.

Repayment Plan Eligible Loans Details
Standard Repayment Plan Direct Subsidized and Unsubsidized Loans, Subsidized and Unsubsidized Federal Stafford Loans, all PLUS Loans Payments are a fixed amount of at least $50 per month. Up to 10 years.
Graduated Repayment Plan Direct Subsidized and Unsubsidized Loans, Subsidized and Unsubsidized Federal Stafford Loans, all PLUS Loans Payments are lower at first and then increase, usually every two years. Up to 10 years.
Extended Repayment Plan Direct Subsidized and Unsubsidized Loans, Subsidized and Unsubsidized Federal Stafford Loans, all PLUS Loans Payments may be fixed or graduated. Up to 25 years.
Income-Based Repayment Plan (IBR) Direct Subsidized and Unsubsidized Loans, Subsidized and Unsubsidized Federal Stafford Loans, all PLUS Loans, Consolidation Loans (Direct or FFEL) that do not include Direct or FFEL PLUS loans made to parents Maximum payments will be 15% of discretionary income. Payments change as your income changes. Up to 25 years.
Pay As You Earn Repayment Plan Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans made to students, Direct Consolidation Loans that do not include (Direct or FFEL) PLUS Loans made to parents Maximum payments will be 10% of discretionary income. Payments change as your income changes. Up to 20 years.
Income-Contingent Repayment Plan Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans made to students, Direct Consolidation Loans Payments are calculated each year and are based on your adjusted gross income, family size, and total amount of your Direct Loans. Payments change as your income changes. Up to 25 years.
Income-Sensitive Repayment Plan Subsidized and Unsubsidized Federal Stafford Loans, FFEL PLUS Loans, FFEL Consolidation Loans Payments are based on your annual income. Payments change as your income changes. Up to 10 years.


Learn more about Federal Loan Repayment Plans

Learn more about the Massachusetts Health and Human Services Loan Repayment Program

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