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Student Loan Assistance Group
Student Loan Assistance Group at Tulsa Welding School contact & student loan repayment information.
Your Student Loan Support Team
We’re Here to Serve You
You borrowed money to invest in your future with training, but you’re concerned about how you’ll repay your loan or have questions about the whole process. Don’t worry. The Student Loan Assistance Group is here to help. We’re Tulsa Welding School’s internal student loan support team.
We offer full student support with the loan repayment process:
- Answering questions about student loan repayment and deferment
- Helping students weigh their repayment options
- Assisting students in selecting a repayment plan that aligns with their specific circumstances
- Providing forms to apply for repayment alternatives
- Conferencing students in with their Federal Loan Servicer for faster assistance
It’s our mission to prepare you for life beyond the classroom by making sure you have all the tools and resources to successfully repay your student loans or defer them if necessary. Our goal is a financially secure future for each and every TWS student.
You Took Out a Student Loan. What’s Next?
A student loan may be the first of many important investments you’ll need to borrow money for throughout your life:
- Getting married
- Buying a home
- Starting a business
Knowing what to expect next can help you feel confident in your decision. Below are the three main phases of the typical student loan life cycle.
While in Training
Focus on your training while in school. As long as you’re enrolled at least half-time, you don’t have to make any payments.
Student Loan Success Tips
- If you can afford to, it’s a good idea to make small payments to lower the interest on the loan and prepare yourself financially for larger payments later. This will also give you a chance to get to know your Federal Loan Servicer.
Grace Period
After leaving school, you’ll have six months before you have to start repaying your student loan. During this grace period, you’ll receive a welcome letter from your Federal Loan Servicer and your Repayment Obligation Disclosure Statement. This document will explain your total balance, interest rate, monthly payment and first due date.
Student Loan Success Tips
- Make sure to update your address, phone number and email with TWS and your Federal Loan Servicer to ensure you receive these documents.
- Check how your monthly student loan payments fit into your budget.
- Review your options. Choose the repayment or deferment plan that works best with your budget.
Repayment
You are now receiving monthly billing statements. The repayment term is typically 120 months/10 years.
Student Loan Success Tips
- Having trouble making your payments on time? Change your repayment term. You may qualify for lower monthly payments by extending the repayment term. Check with your Federal Loan Servicer.
- Never Let Your Student Loan Account Become Delinquent. There are serious consequences, but they can be avoided. Call us or your Federal Loan Servicer to work out a payment plan you can afford. Contact our office at 855-886-2898.
Ways to Lower Your Monthly Student Loan Payments
We get it. You’re just starting out in your new career after training and the standard loan repayment plan doesn’t work with your budget. The good news is there are several ways to lower your monthly payments and stay in good standing with your loan.
- Your payments start out low and increase every two years.
- The repayment period lasts up to ten years.
- If you think your income will increase steadily over time, this plan could work for you.
- The repayment period is extended to up to 25 years.
- You choose between making the same payment amount every year or gradually increasing payment amounts over time.
- This plan is only an option for Direct Loans.
- It’s gives you the flexibility to make student loan payments without suffering financial hardship.
- Every year, your monthly payment will be calculated based your adjusted gross income, family size and the total amount of Direct Loans. If you’re married, your spouse’s income will be considered, too.
- The maximum repayment period is 25 years.
- After 25 years, if you haven’t fully repaid the loans, the unpaid portion will be discharged. This 25-year time frame doesn’t include time spent in deferment or forbearance. You may still have to pay taxes on the amount that is discharged.
- Monthly payments are capped at an affordable amount based on income and family size.
- You could qualify if the monthly payment for this plan will be less than the monthly amount
calculated under a 10-year standard repayment plan. - If you’re in good standing with your loan and meet other requirements, you could have the
remaining balance of the loan cancelled after 25 years.
How to Put Your Student Loan Payments on Hold
Deferment/Forbearance Options
A student loan deferment or forbearance allows you to temporarily postpone your monthly payments under certain circumstances, such as:
- Re-Enrollment in School
- Economic or Temporary Financial Hardship
- Unemployment
- Disability
- Military Deployment
- Public Service
- Natural Disaster
Student Loan Repayment FAQ
A loan servicer is a company that manages a student loan. They can answer any questions
you have, collect monthly payments and handle other administrative tasks.i
With a Federal Direct Loan, you’ll be assigned a loan servicer after the first disbursement of the loan. The loan servicer will contact you directly.ii
Learn more about Federal Loan Servicers: Click here.
Contact your Federal Loan Servicer.ii
Visit StudentLoans.gov to complete a free Income-Driven Repayment Plan Request application, or call us at 855-886-2898.ii
Counseling to prepare you to repay your federal student loans. Topics include understanding your loans, making a repayment plan, avoiding default and how to make
financial responsibility a priority.ii
Student Loan Resources
- The National Student Loan Data System (NSLDS) allows you to review all of your student loan information in one place. This includes disbursement dates, balances and your assigned Federal Loan Servicer.
- Repayment Estimator. Check which student loan repayment plans you may be eligible for and get estimates on monthly payment amounts.
- This Federal Direct Loan repayment plan comparison chart can help you determine which options you’re eligible for and work best with your budget.
- You Can Deal with It. Find help with student loan management, budget planning tools and cash and credit management tools: Click here.
Department of Education Federal Loan Servicers
| Federal Loan Servicer | Phone | Website |
|---|---|---|
| Aspire Resources Inc. | 855-475-3335 | Click Here |
| Cornerstone | 800-663-1662 | Click Here |
| ESA/EdFinancial | 855-337-6884 | Click Here |
| FedLoan Servicing | 800-699-2908 | Click Here |
| Granite State –GSMR | 888-556-0022 | Click Here |
| Great Lakes Educational Loan Services | 800-236-4300 | Click Here |
| MOHELA | 888-866-4352 | Click Here |
| Nelnet | 888-486-4722 | Click Here |
| OSLA Servicing | 866-264-9762 | Click Here |
| Navient | 800-722-1300 | Click Here |
| VSAC Federal Loans | 888-932-5626 | Click Here |
We’re Here for You. Get in Touch With Us
The Student Loan Assistance Group is your go-to resource during the repayment process. Whether you have questions or need help filling out forms, we’re here to serve you.
Here’s how you can contact us:
Student Loan Assistance Group Address
120 N 44th St. STE 230
Phoenix AZ 85034
Phone Number and Fax:
TWS: (855) 886-2898
FAX: (855) 888-3875
Email: [email protected]
Experience our Virtual Tour now!
Take a virtual tour of our campuses in Tulsa, OK, Jacksonville, FL, Houston, TX, and the Dallas Metro, TX. Offering trade school programs in welding, HVAC/refrigeration, and electrical.
Additional Sources
ihttps://www.consumerfinance.gov/ask-cfpb/what-is-student-loan-servicer-en-583/
iihttps://studentaid.gov/help-center/answers/landing
