What are my options for repaying my student loans?

To avoid making payments while attending CTSFW, new students should contact their loan servicer(s) to request an educational loan deferment if they have previous unpaid student loans. The CTSFW Registrar will need to verify your enrollment for the loan deferment request form. You do not have to begin repaying your Federal Student Loans until you leave school (graduate, withdraw or take a leave of absence) or drop below half-time status in your enrollment.

Vicarage and deaconess internship should not cause your loans to go into repayment. Please contact your loan servicer(s) if you receive payment notification during your vicarage or deaconess internship year.

Several repayment plans are available: Standard, Graduated, Extended, Income-Based Repayment (IBR), Pay As You Earn, Income-Contingent Repayment (ICR), and Income-Sensitive Repayment. The repayment period can vary in length from 10 to 25 years, depending upon the plan you choose. Please go to the Federal Student Aid website to review your options.

Please click here or visit the Federal Student Aid website for whether or not you may qualify for loan forgiveness in the Income-Based Repayment (IBR) or the Public Service Loan Forgiveness. According to the Federal Student Aid website, if a not-for-profit organization employs you, you may count time spent on religious instruction, worship services, or any form of proselytizing as a part of your job responsibilities toward meeting the full-time employment requirement. Remember that extending your repayment plan or decreasing your payment amounts usually increases the interest you pay over time.