Loan Repayment Planning Worksheet - Brown University Page 2
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2Review your options to postpone repayment (deferment or forbearance)
o Options based on your circumstances after graduation (return to school, residency, Peace Corp, etc.)
o Deferment & Forbearance details & application instructions at
o Send completed deferment or forbearance forms to your servicer(s)
Medical students: Not all loans offer residency deferment
o Stafford, PLUS, & Perkins do not offer residency deferment – you must use forbearance if you wish to
postpone repayment
o Consider income driven repayment for Stafford, PLUS, or Consolidation loans rather than forbearance
o Most Institutional Loans offer a max of 36 months residency deferment – you must reapply every year
o If you residency program is longer than 3 years, consider staggering your deferments rather than
postponing all loans immediately
Review your options for loan cancellation or forgiveness
o Teacher Cancellation available for Stafford or Perkins –
o Public Service Loan Forgiveness for Stafford, PLUS, or Consolidation – see details at
o See Perkins Loan Cancellation Chart for additional types of cancellation
Estimate your budget & what you can afford to pay monthly
o Use our Budgeting Worksheet to estimate your income & expenses
o Monthly amount I can afford to repay: ________________________________________________
Keep contact with your servicers
o Always update your contact information with each servicer (your email, phone, & address)
o Open all emails & mail from all loan servicers
o Create online account access
Select your repayment strategy
o Select a Direct Loan repayment plan with your federal servicer: _____________________________
o Provide all documentation for income driven plans: _______________________________________
o Enroll in automatic payments (DL & Brown)
o Mark calendar for each loan repayment start date: ________________________________________
Have questions? Ask us for help: loans@brown.edu
Brown University Loan Office
(401) 863-3296
loans@brown.edu
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