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    Repaying Institutional Student Loans

    You may be able to borrow either short-term or long-term institutional loans from your school. When it comes time for repayment, you'll want to make sure you know which you have.
    Updated: September 15, 2016

    What You'll Learn

    • What institutional loans are.
    • How they're different from federal student loans.
    • Who to contact with questions about these loans.

    A notepad, pen, stack of money, and calculator on a desk

    The Highlights

    Are my payments due immediately?Maybe
    Is it OK to make payments ahead of schedule?Yes
    Can I shrink my monthly payments?Maybe
    Can I postpone repayment with a deferment?Maybe
    Will the government pay the interest during the deferment?No
    Can I find these records online?Yes

    Dig Into The Details

    How Do I Know If I Have Institutional Loans?

    Unlike federal student loans, you'll borrow institutional student loans from your school—not the government. Because of this, these loans will not show up in your National Student Loan Data System (NSLDS®) account. However, it's still easy to figure out if you have these loans. Just pull your credit report for free from AnnualCreditReport.com and see what comes up. The amount you owe on any outstanding debts, including institutional loans, should be there.

    Who Do I Pay, And When?

    Most likely, your school or a servicer—a company hired by your school to collect your payments. Payments may begin immediately after school, or you may have a short grace period. Be sure to check your loan paperwork to be sure.

    Can I Change My Repayment Schedule?

    Contact your school as well if you need to change your repayment schedule or postpone repayment. You may not have these options, but that doesn't mean you shouldn't ask.

    Be Money Smart

    Many schools offer short-term institutional loans, as well as long-term institutional loans. If you have a small gap between your other aid and your cost of attendance, ask your school's financial aid office if you qualify for a short-term loan. Sure, it will be due sooner—but it will also probably come with a lower interest rate. That can save you extra in the long run.

    Devolución de préstamos institucionales

    Actualizado: 15 septiembre 2016

    A notepad, pen, stack of money, and calculator on a desk

    Puntos destacados

    ¿Mis pagos vencen inmediatamente?Quizás
    ¿Está bien si realizo mis pagos antes de la fecha?
    ¿Puedo reducir mis pagos mensuales?Quizás
    ¿Puedo posponer la devolución con un aplazamiento?Quizás
    ¿El gobierno pagará los intereses durante el aplazamiento?No
    ¿Puedo encontrar estos registros en línea?

    Entra en detalles

    ¿Cómo puedo saber si tengo préstamos institucionales?

    Obtén tu informe de crédito gratis en annualcreditreport.com  y revisa lo que sale. El monto que debes en todo tipo de deuda que tengas por pagar incluyendo los préstamos institucionales estarán listados  ahí.

    ¿A quién le pago, y cuándo?

    Lo mas probable es que le pagaras a tu universidad o un administrador de préstamos (una compañía contratada por tu facultad para cobrar tus pagos). Los pagos usualmente comienzan inmediatamente tras el inicio de las clases, aunque puede ser que tengas un pequeño período de gracia. Asegúrate de revisar el papeleo de tu préstamo para estar seguro.

    ¿Puedo cambiar mi plan de devolución?

    Comunícate con tu facultad si necesitas cambiar tu cuota de devolución o posponer el pago. Es posible que no tengas estas opciones, pero no significa que no puedas preguntar.

    Se audaz con tu dinero

    Muchas instituciones educativas ofrecen préstamos institucionales a corto y largo plazo. Si tienes una pequeña diferencia entre tu otra ayuda y tus costos de asistencia, puedes elegir el préstamo a corto plazo. Por supuesto, este vencerá antes, pero también tiene una tasa de interés más baja. Esto puede ahorrarte dinero extra a la larga.

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