1. TODAY’S PROGRAM DEBT MANAGEMENT OVERVIEW UNDERSTANDING YOUR NSLDS REPORT BUDGETING AND CREDIT REPAYMENT OPTIONS TODAY’S PROGRAM DEBT MANAGEMENT OVERVIEW UNDERSTANDING YOUR NSLDS REPORT BUDGETING AND CREDIT REPAYMENT OPTIONS

2. DEBT MANAGEMENT OVERVIEW

3. HOW MUCH DID I BORROW??? NOW WHAT DO I DO?

4. YOUR LOAN PORTFOLIO WHAT TYPE OF LOANS DO YOU HAVE? WHAT TYPE OF LOANS DO YOU HAVE? Do You Have Loans From College? Do You Have Loans From College? FEDERAL LOANS PRIVATE LOANS PRIVATE LOANS INSTITUTIONAL LOANS INSTITUTIONAL LOANS

5. FEDERAL LOANS Federal Direct Loans Federal Direct Loans Family Federal Education Loans (Bank Loan) Family Federal Education Loans (Bank Loan) Perkins Loan Perkins Loan Primary Care Loan Primary Care Loan Loan For Disadvantaged Students Loan For Disadvantaged Students

6. FEDERAL DIRECT LOANS FFEL LOANS SubsidizedUnsubsidized Graduate Plus Loan

7. CAMPUS BASED FEDERAL LOANS Perkins Perkins Loan For Disadvantaged Students Loan For Disadvantaged Students Primary Care Loan Primary Care Loan

8. PRIVATE LOANS Bank Loans Bank Loans CitiAssist; Signature; Residency Re-location Loans CitiAssist; Signature; Residency Re-location Loans How they differ from Federal Loans. How they differ from Federal Loans.

9. Loan Comparison Interest Rate ForbearanceConsolidation FederalSubsidized Fixed 6.8% AvailableYes FederalUnSub. AvailableYes Federal Grad Plus 7.9%/8.5%AvailableYes Perkins/LDSPCL 5% Fixed AvailableYes PrivateVariable No Cap Maybe Not Yet

10. TERMS OF ENDEARMENT Grace Grace Deferment Deferment Forbearance Forbearance Forgiveness Forgiveness Lender Lender Servicer Servicer Guarantor Guarantor Consolidation Consolidation

11. REPAYMENT OPTIONS Standard 10 Year Repayment Standard 10 Year Repayment Extended Repayment 30 Years Extended Repayment 30 Years Income Based Repayment Income Based Repayment

12. PROS AND CONS PROSCONS Standard Least Amount of Interest Quickest way out of debt Largest monthly payment Extended Reduced monthly payment. Eases transition during residency Much more interest will accrue. Will be in repayment for 25-30 years Income Based Reduced monthly payments while income remains low. Possibility of forgiveness after 25 years. Payment maxes out at Standard Repayment amount Must certify income each year. May result in negative amortization May result in more interest paid than Standard Repayment.

13. CONSEQUENCES OF DEFAULT GARNISHEE OF WAGES, TAX REFUND, EVEN SOCIAL SECURITY BENEFITS. GARNISHEE OF WAGES, TAX REFUND, EVEN SOCIAL SECURITY BENEFITS. LOSS OF MEDICAL LICENSE LOSS OF MEDICAL LICENSE Not eligible for Medicare/Medicaid Programs Not eligible for Medicare/Medicaid Programs CREDIT CREDIT COLLECTION COSTS (25%) COLLECTION COSTS (25%)

14. OTHER DEBT Credit Cards Credit Cards Auto Loan Auto Loan Mortgage Mortgage Personal Loans Personal Loans