Loan Repayment Resources

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Loan Repayment Resources

Informative Sites

During your academic career at AUM, you may receive emails from regarding $ALT. $ALT is a financial literacy program offered through American Student Assistance, a non-profit organization dedicated helping students and families manage higher education debt. $ALT offers information about student loan repayment, consolidation, and loan forgiveness programs. It also provides helpful career services, and will help AUS students to manage finances and student loans. For more information about $ALT, AUM students can log in at

Much of the information contained in this page can be found at; you may want to bookmark that as a resource site for your student loan questions. As always, if you have questions regarding student loan repayment or any other questions regarding financial aid, please contact the AUM Financial Aid Office.


Your Federal Student Loan History

You can review your entire federal student loan history and lifetime borrowing totals at the National Student Loan Data System.


Loan Repayment Options

There are several excellent programs offered by the U.S. Department of Education for federal student loan borrowers. The first program is called Income Based Repayment (IBR). IBR is designed to help borrowers whose income makes a Standard (10-year) loan payment hard to afford.

A second repayment program, launched in December 2012, is called Pay As You Earn (PAYE). PAYE is also designed to make your monthly payments more affordable, and it offers slightly better terms than the IBR program. However, PAYE is only available to students whose entire federal loan borrowing has occurred exclusively after October 1, 2007. To review your eligibility for these programs, log in to

Another program that may be of interest is called Public Service Loan Forgiveness (PSLF). PSLF which will forgive remaining federal student loan debt after 10 years of qualifying loan payment and eligible employment.

A borrower may use IBR or PAYE to lower their monthly payment, and have the remaining balance forgiven through Public Service Loan Forgiveness after 10 years of qualifying employment.

For more information on these repayment programs, see


Loan Consolidation

To simplify repayment, and to qualify for most of the Forgiveness programs offered by the Department of Education (including Loan Forgiveness for Teachers, and Public Service Loan Forgiveness), you may need to consolidate your loans. Not all federal loans — particularly those received prior to July 2010 — qualify, but by consolidating them they may be eligible for forgiveness. For more information on federal loan consolidation, see this page. To complete the consolidation process, go to



If you have questions regarding student loan repayment or any other questions about financial aid, please contact the AUM Financial Aid Office at or (937) 769-1883.