Loan Repayment

It is important for student borrowers to know loan balance amounts and repayment options both before and after graduation.

We encourage students to work with their loan servicers and the U.S. Department of Education to stay informed about their loans. Students should make regular monthly payments on loans in order to maintain a good credit rating. Complete loan repayment information through the U.S. Department of Education is available at Repay Your Loans.

COVID-19 Forbearances Ending Soon

Many student loan borrowers have taken advantage of the special COVID-19 forbearance status, which pauses monthly payments and interest accrual due to the COVID-19 national emergency. All COVID-19 forbearances have been extended through May 1, 2022. After that date borrowers will be required to resume making monthly payments, and interest will begin to accrue again. It is important to ensure that you are ready to resume monthly payments on time. Below is information for each of the different loan types for which borrowers may have been in COVID-19 forbearance status.

Federal Perkins Loans

The COVID-19 forbearances for Stanford Perkins borrowers will expire on May 1, 2022. Affected borrowers should receive instructions from University Accounting Service (UAS) regarding when and how to resume monthly payments. You can contact UAS at (844) 870-8701 to confirm your payment due date and to ensure that you are set up for electronic payments. More information is available at www.uasconnect.com.

Stanford Institutional (Non-Federal) Loans

All Stanford institutional loan borrowers have been automatically placed in COVID-19 forbearance status.  This status will also expire on May 1, 2022. UAS will be contacting borrowers regarding when and how to resume monthly payments. We encourage you to contact UAS with questions at (844) 870-8701. Your account information is available at www.uasconnect.com.

Federal Direct Loans (Subsidized, Unsubsidized, PLUS)

COVID-19 forbearances for Direct loans will also expire on May 1, 2022. Loan servicing agencies are sending instructions to borrowers who will be resuming repayment after that date. We encourage you to proactively contact your servicer to confirm your repayment schedule and to ensure that you are set up for electronic payments. You can find the name and contact information for your loan servicer at studentaid.gov. After you log in with your FSA ID, select Manage Loans, then View My Account; servicer information is shown at the bottom of the page. More information regarding return to repayment of Federal loans can be found at StudentAid.gov/coronavirus.

Federal Family Education Loans (FFEL)

COVID-19 forbearances for FFEL loans will also expire on May 1, 2022. Loan servicing agencies are sending instructions to borrowers who will be resuming repayment after that date. We encourage you to proactively contact your servicer to confirm your repayment schedule and to ensure that you are set up for electronic payments. You can find the name and contact information for your loan servicer at studentaid.gov. After you log in with your FSA ID, select Manage Loans, then View My Account; servicer information is shown at the bottom of the page. More information regarding return to repayment of Federal loans can be found at StudentAid.gov/coronavirus.

Private/Alternative Loans

In some cases, servicers of private/alternative student loans have offered forbearances related to the COVID-19 emergency. The terms and dates of these forbearances are set by the servicer. Borrowers should contact their servicers to determine whether, when, and how they will need to resume making monthly payments.

Updated on January 4, 2022 12:12 PM