$4,297 is the average loan indebtedness of a Sandburg student.

You’re not alone when it comes to student loans. Carl Sandburg College has partnered with Inceptia, a division of the National Student Loan Program (NSLP), to provide you with free assistance on your Federal student loan obligations to ensure successful and comfortable loan repayment.

Inceptia’s friendly customer representatives may reach out to you if your loan(s) become delinquent. Inceptia is not a collection agency. We’ve partnered with them to help you explore a wide variety of possibilities, such as alternative repayment plans, deferment, consolidation, discharge, forgiveness and forbearance options. Inceptia will stay in touch with you via phone calls, letters and/or emails to help you find answers to your questions and solutions to your issues. 

For additional resources including information on repayment options, please visit Inceptia’s Student Loan Knowledge HQ website at HeroKnowl.org.

Borrowing money for college has long-term financial implications. Like any other debt, a student loan is a serious financial obligation that must be repaid. In addition to the principal amount borrowed, interest is charged for the use of the funds. The principal amount plus interest charged, divided by the repayment period determines the amount of the monthly payments after leaving school. Failure to make monthly payments on time can affect your credit rating and your ability to borrow for other purposes, such as a car or a house.

To determine a manageable amount of indebtedness after graduation, students should consider their expected starting salary earning prospects and lifestyle, and then estimate their anticipated level of debt.

Consumer credit experts estimate that total commercial debt should not exceed 8% of the student's annual income. A student who borrows $10,000 can anticipate monthly payments of approximately $121 for 10 years.

Alternatives to loans which students may want to consider are employment tighter budgeting, living at home rather than an apartment, alternating semesters of study with semesters of work or using the college's tuition payment plan.


Your student loan account record and repayment calculators

You should review your total educational debt and monitor your student loan account regularly. Your individual student loan records are available to you at https://nsldsfap.ed.gov/nslds_FAP/.  To access the system, you'll need a department of education FSA ID username/password (previously Personal Identification Number or PIN). You will use this each time you wish to access information; so it's important to keep track of your login information for future use. 

To estimate your monthly repayment amount, visit the Department of Education site: Repayment Options.


Consequences of default

If you default:

  • We will require you to immediately repay the entire unpaid amount of your loan.
  • We may sue you, take all or part of your federal and state tax refunds and other federal or state payments and/or garnish your wages so your employer is required to send us part of your salary to pay off your loan.
  • We will require you to pay reasonable collection fees and costs, plus court costs and attorney fees.
  • You may be denied a professional license.
  • You will lose eligibility for other federal student aid and assistance under most federal benefit programs.
  • You will lose eligibility for loan deferments.
  • We will report your default to national consumer reporting agencies (credit bureaus).


Exit counseling

All students are required to complete exit counseling before they withdraw, graduate or drop below half-time attendance even if you plan to transfer to another school. Exit counseling helps you understand your rights and responsibilities as a student loan borrower and provides useful tips and information to help manage student loan debt. Begin exit counseling..


In-school deferment requests

If you're having trouble making payments, look into the various options at StudentLoans.gov. In addition, you may be able to temporarily suspend payments. The following forms are available to assist you:
Economic Hardship Deferment Request
In-School Deferment Request
Mandatory Forbearance Request
Parent Plus Borrower Deferment Request
Temporary Total Disability Deferment Request
Unemployment Deferment Request


Financial Aid Office
Galesburg campus, E101