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Loan Repayment Information

Information on repayment for federally subsidized and other student loans.

Federal Direct Loan Repayment

Please visit the Federal Student Aid website for information on repaying your Direct Subsidized/Unsubsidized and/or PLUS Loans. The website will provide information on repayment, consolidation, loan forgiveness and cancellation as well as deferment and forbearance options.

Federal Perkins Loan Repayment

After you stop attending school at least half time, your grace period begins.

  • Your initial grace period is nine months.
  • If you re-enroll in school at least half time during this grace period and are approved for an in-school deferment, you get another nine-month grace period the next time you stop attending school.
  • If you re-enroll after your initial nine-month grace period has ended, your next grace period will only be six months.

Repayment begins after the grace period ends.

  • The maximum repayment period is 10 years.
  • Payments are expected each month.
  • The minimum monthly payment is $40, but may be higher depending on your balance.
  • You may prepay your loan at any time without penalty. Prepayment may substantially reduce your interest costs.
  • Federal Perkins Loan payments may be mailed to the address below or you can make payments online at

    University Accounting Service, LLC
    PO Box 5865
    Carol Stream, IL 60197-5865

Loan Simulator

Loan Simulator is a new tool available at Federal Student Aid to help you make decisions about your student loans. Use it to find a repayment plan that meets your needs and goals or to decide whether to consolidate.

Student Loan Repayment Plan Options

Learn more about the repayment plan options available to you.

View Federal Loan Default Rate Info

Consolidate Your Loans

If you have multiple federal student loans, you can consolidate them into a single Direct Consolidation Loan. This may simplify repayment if you are currently making separate loan payments to different loan holders or servicers, as you'll only have one monthly payment to make. There may be tradeoffs, however, so you'll want to learn about the advantages and possible disadvantages of loan consolidation before you consolidate.

If you ever have difficulty repaying your loan, please contact your school immediately to determine if you have options for deferment or forbearance.

Depending on your occupation, you may have options for Federal Perkins Loan cancellation. Please contact your school or University Accounting Services for more information.


Contact US

Office of Financial Aid

121 E. Second St.
Morehead, KY 40351

FAFSA Code 001976

PHONE: 606-783-2011
FAX: 606-783-2293