Skip Navigation
Skip to Menu Toggle Button

Student Loan Debt

Contact Financial Aid

Phone: 800-888-8682
Live phone support is available Monday–Friday, 8 a.m.–8 p.m. ET.

Urgent Requests:
Jay Tinsley, Assistant Vice President of Counseling, Financial Aid
Phone: 844-399-8682

Find helpful information on managing student loan debt, including forecasting loan payments.

Many students attending a college or university in the United States will graduate with a significant amount of student loan debt. It is important to forecast your expected student loan payments while you are still enrolled in school. This will allow you to properly budget and limit over borrowing while enrolled at University of Maryland Global Campus.

Know Before You Owe

Before you borrow your entire loan package, you should identify exactly what your cost of attendance will be. It is also helpful to estimate your payments before you borrow.

Loan Overview

The Federal Student Aid repayment calculator can help you estimate what your repayment options will be once you graduate. 

For example, suppose you are starting your graduate education and already have amassed undergraduate student loans with a $250 monthly repayment. You have been offered a $20,500 unsubsidized Stafford loan and want to look into the standard repayment option. Using the repayment calculator, you estimate that your monthly repayment on the $20,500 loan will be $235.91. This amount combined with your undergraduate repayment of $250 totals $485.91. Now, consider the following questions:

  • Is this an amount you can realistically repay on a monthly schedule without missing any payments?  
  • Is this amount more than eight percent of your current income? 
  • How much do your classes really cost?

These are important factors to consider when deciding the amount you need to borrow. If you suspect you might miss payments or the amount borrowed exceeds eight percent of your income, you may want to reconsider borrowing the entire amount offered to you.

You can see all the Federal Loans you have borrowed to date by logging into your Federal Student Aid account. To view private loans, please contact your private loan lender.

Repayment and Beyond

Failure to make your monthly loan payment can adversely affect your credit history and, in turn, prevent you from borrowing for other reasons in the future. One of your greatest responsibilities as a student loan borrower is making sure you do not go into default. If for any reason you fear you will not be able to make your monthly payment, it is imperative to contact your lender either by phone or through your online account to identify your options. Many lenders will work with you to lower payments temporarily or provide guidance for changing your repayment structure.

Loan Repayment

Many individuals in repayment find it easiest to set up an automated payment from their checking accounts so they have the security of an automatic withdrawal. With advances in online payment and clarity of information on lender/servicer pages, you will easily be able to identify this option with your student loan lender or servicer.

Many student loans (especially Direct Federal Loans) will offer a six-month grace period after you graduate or are no longer attending school at least half-time. During this period, you should take the time to research your repayment options with your lender so you are prepared for repayment once the grace period ends. It is important to remember that you can only receive one grace period per loan. Once your grace period expires, you may be able to put that loan in deferment or forbearance while you're enrolled, but immediate payment would be needed once you drop below half-time status again.

Repaying Your Student Loan

Find important information and tips for repaying your student loan, including when repayment begins.

Contact Us

Our helpful admissions advisors can help you choose an academic program to fit your career goals, estimate your transfer credits, and develop a plan for your education costs that fits your budget. If you’re a current UMGC student, please visit the Help Center.

Personal Information
Contact Information
Additional Information
This field is required.
This field is required.

By submitting this form, you acknowledge that you intend to sign this form electronically and that your electronic signature is the equivalent of a handwritten signature, with all the same legal and binding effect. You are giving your express written consent without obligation for UMGC to contact you regarding our educational programs and services using e-mail, phone, or text, including automated technology for calls and/or texts to the mobile number(s) provided. For more details, including how to opt out, read our privacy policy or contact an admissions advisor.

Please wait, your form is being submitted.