Supporting Students with the Loan Repayment Process
We Offer Comprehensive Support with Student Loans
You borrowed money to invest in your future with training, but you’re concerned about how you’ll repay your loan or have questions about the whole process. Don’t worry. The Student Loan Assistance Group is here to help. We’re The Refrigeration School’s internal student loan support team.
It’s our mission to prepare you for life beyond the classroom by making sure you have all the
tools and resources to successfully repay your student loans or defer them if necessary.
Our goal is a financially secure future for each and every RSI student.
We offer full student support with the loan repayment process:
- Answering questions about student loan repayment and deferment
- Helping students weigh their repayment options
- Assisting students in selecting a repayment plan that aligns with their specific circumstances
- Providing forms to apply for repayment alternatives
- Conferencing students in with their Federal Loan Servicer for faster assistance
What to Expect after Taking Out a Student Loan
A student loan may be the first of many important investments you’ll need to borrow money for throughout your life:
- Getting married
- Buying a home
- Starting a business
Knowing what to expect next can help you feel confident in your decision. Below are the three main phases of the typical student loan life cycle.
During Vocational School
Focus on your training while in school. As long as you’re enrolled at least half-time, you don’t
have to make any payments.
Suggestions for Success with Your Student Loans
- If you can afford to, it’s a good idea to make small payments to lower the interest on the loan and prepare yourself financially for larger payments later. This will also give you a chance to get to know your Federal Loan Servicer.
After leaving school, you’ll have six months before you have to start repaying your student loan. During this grace period, you’ll receive a welcome letter from your Federal Loan Servicer and your Repayment Obligation Disclosure Statement. This document will explain your total balance, interest rate, monthly payment and first due date.
Student Loan Success Tips
- Make sure to update your address, phone number and email with RSI and your Federal Loan Servicer to ensure you receive these documents.
- Check how your monthly student loan payments fit into your budget.
- Review your options. Choose the repayment or deferment plan that works best with your budget.
Paying Back Your Student Loans
You are now receiving monthly billing statements. The repayment term is typically 120 months/10 years.
Student Loan Success Tips
- Having trouble making your payments on time? Change your repayment term. You may qualify for lower monthly payments by extending the repayment term. Check with your Federal Loan Servicer.
- Never Let Your Student Loan Account Become Delinquent. There are serious consequences, but they can be avoided. Call us or your Federal Loan Servicer to work out a payment plan you can afford. Contact our office at 888-671-5803.
Reducing Your Monthly Student Loan PaymentsWe get it. You’re just starting out in your new career after training and the standard loan repayment plan doesn’t work with your budget. The good news is there are several ways to lower your monthly payments and stay in good standing with your loan.
Pausing Student Loan Payments
If you can’t make your monthly payments, you may be able to temporarily postpone them. Deferment or forbearance is granted under certain circumstances:
- Re-enrollment in school
- Economic or temporary financial hardship
- Military deployment
- Public service
- Natural disaster
Frequently Asked Questions About Student Loan Repayment
Student Loan Resources
- The National Student Loan Data System (NSLDS) allows you to review all of your student loan information in one place. This includes disbursement dates, balances and your assigned Federal Loan Servicer.
- Repayment Estimator. Check which student loan repayment plans you may be eligible for and get estimates on monthly payment amounts.
- This Federal Direct Loan repayment plan comparison chart can help you determine which options you’re eligible for and work best with your budget.
- You Can Deal with It. Find help with student loan management, budget planning tools and cash and credit management tools: Click here.
Department of Education Federal Loan Servicers
|Federal Loan Servicer||Phone||Website|
|Aspire Resources Inc.||855-475-3335||http://www.aspireresourcesinc.com/|
|Granite State –GSMR||888-556-0022||www.gsmr.org|
|Great Lakes Educational Loan Services||800-236-4300||www.mygreatlakes.org|
|VSAC Federal Loans||888-932-5626||www.VSACFederalLoans.org|
You Can Count on Us. Contact Us for Help
The Student Loan Assistance Group is your go-to resource during the repayment process. Whether you have questions or need help filling out forms, we’re here to serve you.
Here’s how you can contact us:
Student Loan Assistance Group Address
120 N 44th St. STE 230
Phoenix AZ 85034