Scholarships

Loan Repayment

Student loans are real loans that must be paid back regardless of your financial circumstances. Understanding the repayment process will ensure you make informed financial decisons for your future.

Tracking Your Loans

Loan students are required to begin payment 60 days after they leave school or drop below half-time enrollment. For information on how much you owe and who will be collecting your payments log on to:

National Student Loan Data System (NSLDS)


Many loan servicers have tools to help students navigate the loan repayment process. Take advantage of these tools by connecting with your loan servicer before you leave college.

Understanding Repayment

There are a variety of student loan repayment options available.To determine which ones you qualify for contact your loan servicer.

Repayment Plan Eligible Loans Monthly Payment and
Time Frame
Standard Repayment Plan Direct Subsidized and Unsubsidized 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

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

all PLUS loans
Payments may be fixed or graduated.

Up to 25 years
Income-Based Repayment Plan (IBR) Direct Subsidized and Unsubsidized Loans

Consolidation Loans that do not include (Direct or FFEL) PLUS loans made to parents
Maximum monthly payment is 15 percent 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 Consolidation Loans that do not include (Direct or FFEL) PLUS loans made to parents
The maximum monthly payment is 10 percent of discretionary income.
Payments change as your income changes.

Up to 20 years
Income-Contingent Repayment Plan Direct Subsidized and Unsubsidized Loans

Direct Consolidation Loans
Payments are based on your adjusted gross income, household size and loan debt.Payments change as your income changes.

Up to 25 years

Loan Consolidation-allows a student to combine multiple federal student loans into one loan. The result of consolidation is a single monthly payment instead of multiple payments.

If you are unable to make your payments check with your loan servicer to see if you qualify for a deferment or forbearance.


Deferment-A period during which a student's loan payments are temporarily delayed. The most common reason for deferment is at least half-time attendance in college. Contact your loan servicer to determine if you qualify.

Forbearance-A period of delayed or reduced payments available to students who do not qualify for deferment. Contact your loan servicer to determine if you qualify.

Financial Aid Information

Types of Financial Aid

Financial Literacy

FSA Loan_Basics

 

FSA Exit_Brochure_2013

Contact Financial Aid

This email address is being protected from spambots. You need JavaScript enabled to view it.

Phone: (503) 842-8222, ext. 1130, 1135

Toll free 1-888-306-8222 ext. 1130, 1135

Fax: (503) 842-8334

Open 8:30 AM - 4:30 PM, Monday – Friday

Feel free to drop by

Extended hours for registration during the first week of classes each term.

Extended Hours
Monday - Thursday, 7:30 AM - 6:30 PM

Closed Fridays through July and August
 
Tillamook Bay Community College
4301 Third Street
Tillamook, OR 97141