When and How Will I Start to Repay?

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Visit the BU Financial Assistance website for federal, state and private loan repayment information.

Virtually all student loans can be deferred while the student is enrolled, although the terms and conditions that apply when the loan is in deferment status vary depending on the loan. Check to be sure you understand if interest accrues while the loan is in deferment status, if the grace period before loan payments start is affected, or if there are other implications that result from deferring your loan.

“It is better to have a permanent income than to be fascinating.”
Oscar Wilde

To find the contact information for a private lender, refer to the documentation provided to you by the lender or go to your lender’s website.

To learn more about repayment of Federal Direct Loans including clearly defined descriptions of grace periods, deferment and repayment options, and to use online calculators to illustrate your unique repayment situation, visit http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html.

Contact information for Federal Direct Loans, Federal Perkins Loans, and the Massachusetts No Interest Loan is listed below.

Federal Direct Stafford, PLUS, and Consolidation Loans:
Contact your loan servicer. If you do not know which servicer the U.S. Department of Education assigned your loans to, visit the National Student Loan Data System (NSLDS) website to access your loan records. The name and contact information for your servicer is listed at NSLDS.

Federal Perkins Loan:
http://www.bu.edu/studentloanaccounting/contact-us/
617-353-2340

Massachusetts No Interest Loan:
http://www.ecsi.net
888-549-3274

Most lenders encourage borrowers to create an online account with them so you can view current details of your payment schedule and make online payments.