Verify servicer(s)
As an outcome of contract transfers and terminations mid-pandemic, your servicer(s) may have changed sine 2020. Translation? You'll need to confirm who will be receiving future payments and ensure they have your updated contact information.

If you have private loans, review any correspondence you've received from your original loan servicer, reach out to your school's financial aid office for help tracking that information, or visit AnnualCreditReport.com for a free weekly report that lists loans in your name.

If you have federal loans, visiting the Federal Student Aid website is the simplest, most efficient way to access your federal loan information and verify current servicers. You'll first need to log in with your FSA ID. Once logged in, you can view your original principal amount, current balance, and interest rate as well.

Evaluate repayment
Much can change within our big picture in three years. Is your student loan payment still affordable? Decide what type of repayment strategy fits your current priorities.

Set aside savings
Once you know what your monthly loan payment will be, transfer that amount to a separate savings account monthly starting right away. By accounting for this reduction in your budget sooner rather than later, you'll lessen the initial impact of repayment, and you'll be back in the habit of making this a monthly routine.

Consider consolidation
Depending on whether you have federal loans, private loans, or a combination, loan consolidation could potentially reduce your payment burden. 

Seek support
If you're feeling overwhelmed at the prospect of repayment, you don't have to figure it all out on your own! Connect with HEFCU to see how we can help.