What are my options for repaying my student loans?

In order to avoid making payments while attending CTSFW, new students should contact their loan servicer(s) to request an educational loan deferment if you 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.

There are several repayment plans 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 of time from 10 to 25 years, depending upon the plan you choose. Please go to the Federal Student Aid website to review your options.

For information on whether or not you may qualify for loan forgiveness in the Income Based Repayment (IBR) or the Public Service Loan Forgiveness, please click here or visit Student Aid. According to the Federal Student Aid website– if you work for a non-profit organization, your employment will not qualify for Public Service Loan Forgiveness for time spent in duties related to religious instruction, worship services, or any form of proselytizing. Remember that extending your repayment plan or decreasing your payment amounts usually increases the amount of interest you pay over time.