Here are some FAQs
What is RepayReady?
RepayReady is a repayment planning program that delivers engaging,
educational, multi-media tutorials along with cutting edge repayment
planning tools. A key component to the program is the creation of a
personalized repayment strategy that considers all of a student’s education
loans.
What does having access to real-time information mean to users?
RepayReady is integrated with Meteor, which aggregates student loan
information from a network of data providers (lenders, servicers and
guarantors). Its information is student-specific, giving borrowers a list
of their loans — or contact information, should details not be directly
available.
Why create a repayment strategy?
Studies have shown that borrowers who actively choose a repayment plan are much
more successful at repaying their student loans.
How do borrowers create and implement a repayment strategy?
Once a borrower has watched the videos and reviewed the resources available,
they can create and implement a repayment strategy through the Electronic Loan
Counselor. Using the Electronic Loan Counselor is an easy three step process.
First they review or update their student loans. Next, they assess their ability
to repay their student loans. Then they create and implement a repayment strategy
by picking the options that work best for them and relaying their request
(as documented on pre-populated forms) to their lender(s) or servicer(s).