Managing student loan repayment can be challenging. Recent changes to the Federal Direct Loan Program have complicated repayment for many borrowers, and it can be hard to keep track of all the loan programs, interest rates, repayment plans, and Web sites. The Office of Financial Aid is here to help current and former Juilliard students with debt management. We seek to ensure that students have access to the information they need to repay their loans as quickly and affordably as possible. The information on this page will help you navigate the complex world of student loans, empowering you to make the best choices for your situation.
For Federal Stafford and Graduate PLUS Loans, repayment begins six months after graduation. This date typically falls between mid-November or December if you graduate in May. Private loans also typically offer a six-month grace period. If you have a Perkins loan, repayment begins nine months after graduation, or in February-March of the year after you graduate. We recommend you review the Top Ten Tips for Recent College Graduates and Debt Management for Juilliard Students for useful information on repaying student loans. You may also find this article from the National Association of Student Financial Aid Administrators (NASFAA) to be helpful. It contains expert advice from financial aid administrators on the various loan repayment options to help you decide which may be most appropriate for you.
Managing Your Accounts
If you have a student loan, you are able to access all of your account information online. The Office of Financial Aid recommends that you use these online tools as much as possible. The number of accounts you need to maintain depends on the loans you have borrowed. The best place to start is www.nslds.ed.gov. On this site, you can determine who your federal loan servicers are. Once you have that information, you can go to the Web site of your servicer (or servicers) to create an account. Use this list of federal loan servicers to obtain their contact information. If you have a Perkins loan from Juilliard, your account information can be found on www.mycampusloan.com. For instructions on how to create an account on this site, click here. For servicer information on Perkins loans from another school, you should contact the school from which you borrowed the loan. Private educational loans from banks or credit unions will not appear as part of your borrowing history on NSLDS. For information about any private loans you borrowed, contact your lender or the school you attended when you borrowed the loan.
Consolidating Federal Loans
Consolidation is an option if you have multiple federal loan servicers and have trouble remembering to make a payment to each servicer every month. Consolidation can be tricky, however, because it can increase your interest rate and extend your repayment term. These factors will increase the amount of interest you pay over the repayment term. Juilliard’s Federal Loan Consolidation Guide can help you determine if consolidation is the best option. You can also use the Consolidation Organization Spreadsheet to get organized before you begin the consolidation process.
Keep in Touch
At Juilliard, your relationship with the School does not end when you graduate. The Office of Financial Aid is always available to provide counseling to alumni. Make sure to keep your contact information updated with us, which you can do online. If you have questions about your student loans, please contact the office (212) 799-5000, ext. 211, or [email protected].