Skip to Content JB Pritzker, Governor, State of Illinois

Loan Repayment

Loans are sources of financial aid that must be repaid. Loan repayment is the process by which a borrower fulfills his/her legal obligation to repay the lender for funds that were disbursed. It is a process that does not directly involve the financial aid administrator, but rather is between the lender and borrower. Financial aid administrators, however, need to be aware of all aspects of repayment to be able to counsel and assist their students.

This Loan Repayment section provides financial aid administrators with basic loan repayment information.