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Loan Repayment

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Federal Student Loan History

The U.S. Department of Education's National Student Loan Data System (NSLDS) is your best resource for keeping track of your Federal Student Loans. NSLDS allows you to access information on your federal student loans including amount borrowed, current loan status, and loan servicer contact information. For your federal student loan history, go to www.nslds.ed.gov.

Repaying Your Federal Student Loans

After you graduate, leave school, or drop below half-time enrollment, you typically have a period of time before you have to begin repayment. This is called the "grace period". In most cases the grace period will be:

  • six months for a Federal (FFEL) or Direct Stafford Loan.
  • nine months for Federal Perkins Loans
  • The repayment period for all PLUS loans begins on the date the loan is fully disbursed, and the first payment is due within 60 days of the final disbursement. However, a graduate student PLUS loan borrower can defer repayment while the borrower is enrolled at least half time.

For more information regarding Federal Student Loan Repayment as well as all your Federal Student Loan Repayment options, go to www.studentaid.gov.

Postponing Federal Student Loan Payments

Under certain circumstances, you can receive a deferment or forbearance that allows you to temporarily postpone or reduce your federal student loan payments. Postponing or reducing your payments may help you avoid default. For more information on postponing your Federal Student Loan payments , go to Federal Student Aid - Deferment and Forbearance.

Federal Loan Consolidation

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. Consolidating your federal education loans can simplify your payments, but it also can result in loss of some benefits. Before consolidating your loans you should weigh the pros and cons and decide whether a Direct Consolidation Loan is right for you. To learn more about Federal Loan Consolidation, go to Federal Student Aid - Loan Consolidation.

Public Service Loan Forgiveness

The Federal Public Service Loan Forgiveness (PSLF) Program was established by Congress as part of the College Cost Reduction and Access Act of 2007 to encourage individuals to enter into and continue to work full-time in public service jobs. Under this program, borrowers may qualify to have the remaining balance due on their eligible federal student loans forgiven after making 120 qualifying monthly payments while employed full-time by certain public service employers. If you are or plan to be employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program. To learn more about this program, go to Federal Student Aid - Forgiveness, Cancellation, and Discharge.

Loan Repayment Assistance Programs

John & June Mary Makdisi Loan Forgiveness Fund

This endowed loan repayment assistance fund was established in 1999 by former St. Thomas University School of Law Dean, Prof. John Makdisi, and Prof. June Mary Makdisi to assist St. Thomas law graduates working in public interest law.

Mr. & Mrs. Stanley G. Tate Loan Forgiveness Fund

This endowed loan repayment assistance fund was established by Stanley Tate, a member of the Board of Trustees of St. Thomas University. The annual award is designed to relieve some of the loan indebtedness of those St. Thomas School of Law graduates practicing public interest law.

For more information on our Loan Repayment Assistance Programs click here or contact the Law School's Career Services Office.