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

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. This special forbearance status will end on August 31, 2023, with interest to begin accruing on September 1, 2023, and first payments due in October 2023.  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

For Perkins borrowers with COVID-19 forbearances, Stanford will extend the expiration date of the forbearance to August 31, 2023.Upon this expiration, your Perkins loan(s) will begin accruing interest again. You will receive your first bill in September 2023 with the first payment due in October 2023. If you are unable to resume payments in October, you will need to make other arrangements with University Accounting Service (UAS). 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

For instituitional loan borrowers with COVID-19 forbearances, Stanford will extend the expiration date of the forbearance to August 31, 2023. Upon this expiration, your Stanford Institutional loan(s) will resume accruing interest. You will receive your first bill in September 2023 with the first payment due in October 2023. If you are unable to resume payments in October, you will need to make other arrangements with University Accounting Service (UAS). 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)

Direct loans with COVID-19 forbearances will begin accruing interest again on September 1, 2023, with first payments due in October 2023. Loan servicing agencies are sending instructions to borrowers who will be resuming repayment. 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)

FFEL loans with COVID-19 forbearances will also begin accruing interest again on September 1, 2023, with first payments due October 1, 2023. 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 July 3, 2023 12:33 PM