Student Loan Repayment

Student Loan Repayment, Delinquency, and Default

Loan repayment typically begins six months after you graduate, leave school, or drop below half-time enrollment. This is called your grace period. You’ll receive information from your loan servicer about when your first payment is due and how much you’ll owe.

Please be advised that if you have previously exhausted your grace period, you will no longer be eligible to receive an additional grace period. Note that for most loans, interest accrues during your grace period. You can access your federal student loan information by logging into studentaid.gov.

Student Loan Repayment Counseling - offered by Inceptia

At the College of Southern Nevada, we understand that student loans can be intimidating. That’s why we have partnered with Inceptia, a nonprofit organization, to provide you with free assistance with your student loan obligations to ensure you feel comfortable and can be successful in your loan repayment.

Inceptia may be calling to help you with the next steps in your repayment journey. Their friendly counselors are there to help you every step of the way. While you are in your grace period, they might reach out to you to answer questions you may have on your repayment options. If you become delinquent on your loans, they may also contact you to help find a solution that works within your means.

The Inceptia counselors are there to help you with every step by staying in touch with you via phone calls, letters, and/or emails. They will not be collecting money from you. Inceptia’s nonprofit purpose is to help you find answers to your questions and solutions to your issues. We encourage you to visit Inceptia’s Student Knowledge HQ website at HeroKnowl.org.

Struggling to make your monthly payments?

Contact your loan servicer immediately. You might be able to switch to a repayment plan that lowers your monthly payments or check if you're eligible for a postponement.

Avoiding payments can hurt your credit and lead to default, for additional information click here https://studentaid.gov/manage-loans/repayment#

What is Loan Delinquency?

A student loan becomes delinquent the day after a missed payment and remains so until repaid or arrangements are made. Delinquency for 90+ days is reported to credit bureaus, harming your credit.

Continued delinquency may lead to default with serious consequences. If you've missed a payment or are financially struggling, contact your loan servicer immediately to discuss options and prevent default. Learn more about how to avoid default. You can also call 1-800-621-3115.

What happens if I default on my student loans?

A federal student loan goes into default after 270 days of missed payments. Consequences include:

  • Loss of federal financial aid eligibility
  • Wage and tax refund garnishment
  • Damage to your credit
  • Collection costs and legal action

But you have options to recover. Contact your loan servicer to learn about loan rehabilitation or loan consolidation to get back on track. You can also call 1-800-621-3115. 

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