Student Loan Advisory

All borrowers should be aware of the following:

Borrowing a loan is a way to use your future income to meet today’s needs. Every dollar borrowed will be repaid with interest out of your future income.
Borrow only what is needed. Students are not required to borrow the full amount awarded in the Financial Aid Summary.

Before spending ask yourself:

Does this meet a basic need?

Is this greatly enhancing my quality of life?

Is this an investment in my future?

Investigate other sources of financial aid that do not need to be repaid, such as scholarships and Federal Work-Study.

To reduce total debt, students can try to make some interest payments on Federal Direct Unsubsidized (Stafford) Loans, Federal Direct PLUS Loans while they are at USC or covered by a grace period. Or, just borrow less.

Inform the loan servicer when changing their name or address, or if they withdraw from USC or graduate.

Establish good credit by wisely managing loan repayments. Make all payments on time (consider setting up automatic payments from your checking account) and keep copies of all documents and correspondence.

Reduce the cost of the investment in education by focusing on needs and not on wants. Wherever possible, students should eliminate those expenditures that do not meet life’s necessities.

Loan History

To review your financial aid history and to better understand your federal student loan indebtedness, log in to studentaid.gov. You will need your name, date of birth, Social Security number and FSA ID to access your confidential record.

If you have borrowed from one or more of the non-federal private financing programs, more information about those loans can be obtained from your lender or on your credit report at annualcreditreport.com.

 

AB 721 Disclosure of Student Loan Data

 

California Assembly Bill No. 721 requires colleges and universities in California to disclose the following information concerning graduates and student loan debt:

Number of students who started as first-time students at USC and received a bachelor’s degree between July 1, 2021, and June 30, 2022:	3,424
Number and percentage of undergraduates who borrowed at any time while enrolled at USC through any student loan program (such as Institutional Loans, Perkins Loans, Federal Direct Subsidized and Unsubsidized Loans and private loans):	1,100 / 32%
Total principal borrowed for loans described above:	$29,187,400
Average cumulative principal borrowed (total borrowed divided by number of students receiving loans):	$26,534
Number and percentage of undergraduates who borrowed while enrolled at USC through any federal student loan program (excluding Institutional Loans, state and private loans):	1,065 / 31%
Total principal borrowed for loans described above:	$19,080,540
Average cumulative principal borrowed (total borrowed divided by number of students receiving loans):	$17,916