How to pay interest on unsubsidized loans
Most students don’t start making payments until they leave school, but did you know you can start paying them before while you’re still at PCC? In fact, it is a really good idea to pay the interest on your loans while you are still taking classes. You can find your servicer at StudentAid.gov to find out your interest only amount and set up your payment.
Step 1: Find your loan servicer
- Visit StudentAid.gov: Who’s My Student Loan Servicer?
- Click the blue button: Find my Servicer
- Log in to your account and view My Servicers & Schools
Alternatively, you can call the Federal Student Aid Info Center at 1-800-433-3243.
Step 2: Contact your loan servicer
Now that you know who is handling your loan, contact them to set up an interest payment. When you contact the servicer, be sure to tell them you want to pay only the interest on your unsubsidized loan.
Step 3: Make monthly payments
Congratulations! You are now on your way to having much less debt to pay off your student loan. By making monthly payments, you are reducing the total amount that will need to be paid off later.
For more information about managing your financial aid visit Panther Tracks: Managing Student Loans.