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.
New Federal Stafford Loan Interest Rate
Federal Direct Stafford Loans that were disbursed prior to July 1, 2006 (i.e. before the 2005-06 academic year) and have not been consolidated have variable interest rates that will be in effect from July 1, 2008 to June 30, 2009.
The new interest rates are as follows:
- In-school, grace, or deferment period - 3.61%
- In repayment - 4.21%
New Legislation to Provide Repayment Options
The College Cost Reduction and Access Act of 2007 which provides a number of benefits to students has a couple items of interest to alumni that will go into effect on July 1, 2009. Of particular interest to law students are the Income Based Repayment Option and Loan Forgiveness.
Information has been posted in the Loan Repayment Information section of the website.