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Now is the time to begin managing your loans and preparing for repayment. When you graduate, drop below half time or otherwise leave Bethel you will want to be prepared.

1. Borrow Wisely.

Compare your borrowing options and make sure you make the choice that is best for you. Your education is an investment and borrowing wisely is important to your future success.

2. Complete Exit Counseling.

If you've received federal loans, SELF Loan or a TEACH grant, you'll need to complete exit counseling to go over your rights and responsibilities.

  • Subsidized and Unsubsidized exit counseling can be completed on the Student Loans.gov website.
  • Perkins exit counseling can be completed through Heartland ECSI. You will need to click "sign in or Register" to create a Heartland account. Your school code is 8B. If you have questions about your Perkins loan, repayment, or exit counseling, contact the Business Office at 651.638.6208 or business-office@bethel.edu.
  • SELF Counseling can be completed with the Minnesota Office of Higher Education. 
  • TEACH Grant exit counseling can be completed through the U.S. Department of Education on the StudentLoans.gov website.

3. Consider Repayment Options.

Visit the How to Repay Your Loans section of studentaid.gov to explore payment plan options for your federal direct loans. Information about other topics such as loan forgiveness, cancellation or discharge is also available here.

You will work with the servicer of your loan to manage the repayment of your federal loans and select a repayment plan. The standard repayment plan has equal payment amounts each month over a 10 year time period, but there are also other income based repayment options which are available.

Perhaps you want to consider loan consolidation. Consolidating loans could help you manage your finances with fewer monthly payments and a fixed interest rate. Learn more about the pros and cons of consolidating your federal loans. You may also wish to explore consolidating your private loans.