Financial Aid Office
The BU Law Financial Aid Office provides important information regarding loan repayment options, consolidation, and explanations of deferment and forbearance options available to borrowers while in repayment.
The Law Financial Aid Office continues to be available to alumni throughout their repayment. While it is true that most questions you may have will likely arise during the beginning of your repayment, please feel free to contact our office at any time.
Federal Stafford Loan Interest Rate
Federal Direct Stafford Loans that were disbursed on or after July 1, 2006 have a fixed interest rate of 6.8%
Federal Direct Stafford Loans that were disbursed prior to July 1, 2006, and have not been consolidated, have variable interest rates that will be reset annually on July 1.
Federal PLUS Loan Interest Rate
Federal Direct PLUS Loans that were disbursed on or after July 1, 2006 have a fixed interest rate of 7.9%
Federal Direct PLUS Loans that were disbursed prior to July 1, 2006, and have not been consolidated, have variable interest rates that will be reset annually on July 1.
New Legislation to Provide Repayment Options
The College Cost Reduction and Access Act of 2007 provides a number of benefits to students. Of particular interest to law students are the Income Based Repayment option and Loan Forgiveness for Public Service employees.
Additional information has been posted in the Loan Repayment Information section of the website.