Columbia University Student Financial Services

Repayment is the process of making payments to pay off the loan amount borrowed plus interest that has accrued on the loan while you were in school, during any periods of authorized deferment, and during your grace period.

Repayment typically begins after a grace period following your graduation or your ceasing to be registered. Your first payment is typically due within 60 days of each loan’s entering repayment.

Repayment Plans

Your federal, institutional, or private loan may offer a variety of repayment plans. You should periodically review your repayment plans and contact your lender, loan holder, or servicer for help in determining what options may be available. You may prepay your loan with no penalty or use one of the repayment plans available. Remember, however, that the longer you take to repay your loans, the more you will have to pay in interest charges. Repayment options for federal and private loans differ.