Debt Management
At PTS, we want you to continue to feel cared for and supported long after you have graduated. For some of our students, this means feeling confident and secure in handling loans. You can call us with questions regarding your student loans. We also have some fantastic resources for you.
Inceptia
We understand that student loans can be intimidating. That’s why we've partnered with Inceptia, a division of the National Student Loan Program, to provide free assistance on your student loan obligations to ensure you feel comfortable and can be successful in your loan repayment.
Inceptia may be calling to help you with the next steps in your repayment journey. Their friendly counselors are there to help you every step of the way. While you are in your grace period, they might reach out to you to answer questions you may have on your repayment options. If you become delinquent on your loans, they may also contact you to help find a solution that works within your means.
The Inceptia counselors help you by staying in touch via phone calls, letters, and/or e-mails. They will not be collecting money from you. Inceptia’s nonprofit purpose is to help you find answers to your questions and solutions to your issues. We encourage you to visit Inceptia’s Student Loan Knowledge HQ website at HeroKnowl.org.
Exit Counseling
Each student who borrowed a Federal Direct Unsubsidized Loan or a Federal Direct Graduate Plus Loan while attending Pittsburgh Seminary and either graduated or dropped below half-time enrollment status must complete an Exit Interview on the Federal Student Loan website. Borrowers are also strongly encouraged to visit the Financial Aid Office for an individual discussion with the financial aid associate director.
Managing Your Loans
Federal Student Aid provides a number of resources on their website, studentaid.gov, to assist you in understanding and managing your loans. You can access information regarding your loan servicer, choosing a payment plan, filling out information for Public Service Loan Forgiveness, and much more. Make sure to visit their website whenever you have questions regarding your loans.
Return to Payment - Federal Student Loans
The loan payment pause came to an end Sept. 1, 2023. Loan payments began once again Oct. 1, 2023. The Seminary understands that this could be a stressful time for many in our community as they look to enter repayment for the first time, or the first time in a long time. That is why we have partnered with Inceptia to help many of our students with the return to payment. You can also click on the FAQs below to get answers to some of the more general questions on return to payment.
When does loan repayment begin?
Loan repayment began Sept. 1, 2023. Your first payment is due October 2023. If you are not sure what day of the month your payment is set to begin, you can check with your loan servicer.
How do I find out who my loan servicer is?
The best way to figure out who is your loan servicer is to login to studentaid.gov. All of your loan information can be found there. Use the same login information that you use to complete the FAFSA.
What if I cannot pay back my loans?
You have a number of different choices. First, contact your loan servicer to see what your options might be. Second, if you are not already enrolled in an income-driven repayment plan, you can talk to your servicer about enrolling in one of those plans. Lastly, the federal government has established an "on-ramp" for repayment. This on-ramp period protects borrowers from having a delinquency reported to credit reporting agencies. This prevents the worst consequences of missed, late, or partial payments. This on-ramp is for one year, or until September 2024.
Payments are still due, and interest will continue to accrue (add up). The Seminary will not report you as delinquent during the on-ramp, but we do not control how credit scoring companies factor in missed or delayed payments.
Only loans eligible for the payment pause are eligible for on-ramp.
What Other Steps Should I Take Now?
There are several things you should/could do right now for loan repayment:
- Update your contact information on studentaid.gov
- Check your monthly repayment amount and look into income driven plans
- Enroll, or re-enroll, in auto debit. This will help save 0.25 percent off your interest on your loans.
- Check to see if you qualify for any kind of loan forgiveness. You can read more about forgiveness here.
Where can I find more information about repayment?
Federal Student Aid has set up a webpage to assist borrowers with return to repayment. You can access the webpage here. Contact the Seminary's Financial Aid Office, via or 412-924-1384, if you have further questions
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