Apply for Federal Loans

If you are applying for federal loans, please submit the following materials:

Federal Direct Stafford Loans

Federal Direct Graduate PLUS Loan

If you are applying for the Graduate PLUS Loan, please submit the following materials:

Additional information is available on the Federal Student Aid website.

Federal Perkins Loans

The Federal Perkins Loan is a low interest federal loan administered by BU. Perkins Loans have a 5% interest rate that is fixed for the life of the loan. The interest is subsidized during the in-school period and during the 9 month grace period.

Students apply for the Perkins Loan by submitting the FAFSA. The Law Financial Aid Office determines individual student eligibility. Please be aware that far more students could be considered eligible for Perkins Loans than our office has available funds.

Students receive Perkins Loan funds in two equal disbursements—one in the fall semester and one in the spring semester. Before the loan can be credited to your student account, you are required to sign a promissory note. You will be notified when the promissory notes are available to be signed in the Law Financial Aid Office. Promissory notes will not be mailed to you.

Exit Counseling

Perkins Loan borrowers must attend an Exit Counseling Session conducted by the Student Loan Department. The online counseling and the sessions conducted by the Law Financial Aid Office will not fulfill the Exit Counseling requirement for the Perkins Loan.

The Boston University Student Loan Department administers the repayment of Perkins Loans, and assists students with repayment questions, forbearance and deferment options.

Boston University
Student Loan Department

881 Commonwealth Avenue
Boston, MA 02215
617.353.2340
http://www.bu.edu/studentloanaccounting/

Perkins Loans may be consolidated with other federal loans (such as Stafford Loans and Direct Loans). Please be aware that when consolidated, Perkins Loans change to unsubsidized loans and lose some loan cancellation benefits. Please contact the Law Financial Aid Office or the Student Loan Department for additional information.

Code of Conduct

Important Note – Please be aware that we cannot renew your financial aid or process your loan applications if you have a balance of $199 or greater on your student account for the prior academic year.