Identify your lenders. You may have private lenders, public lenders or a combination of both. If you do not know who your lenders are, call the financial aid office of your college or institution. A financial aid representative will provide you with information about your lenders and the types and amounts of loans.
Call your lenders or visit the website of your lenders to read about the repayment plan options for which you qualify. Federal loans allow borrowers to select an Income Based Repayment plan, which is calculated based on your financial ability to make payments. Most lenders also offer standard and extended (graduated) payment plans to meet a borrower's needs.
Register for an online account with your social security number and other personal information. Arrange automatic payment of loans by entering your bank information. Depending on the plan you select, you may be required to make monthly or quarterly payments. Schedule automatic loan payments accordingly to ensure timely payment, as late payments may result in penalties.