Student Loan Repayment

Student Loan Repayment

Student loans require careful planning, and knowing the terms and responsibilities can help build a strong financial future.

Repayment Options

• Standard Repayment Plan
• Graduated Repayment Plan
• Extended Repayment Plan
• Income-based Repayment Plan (IBR)
• Pay As You Earn Repayment Plan
• Revised Pay As You Earn Repayment Plan
• Income-Contingent Repayment Plan
• Income-Sensitive Repayment Plan

Income Driven Repayment Plans - These types of plans are based on the borrower's most recent adjusted gross income (AGI). File your prior year taxes by April if you will be graduating in the Spring!

Deferment and Forbearance are options for temporary postponement of payment; you should contact your loan servicer for more information.

In certain circumstances you may qualify for Forgiveness, Cancellation or Discharge; you should contact your loan servicer for more information.

*NEW* Time-limited Waiver for Public Service Loan Forgiveness Program (PSLF)

On October 6, 2021 the Department of Education announced new improvements to the PSLF program to restore the promise of PSLF. (For more information regarding the waiver please click here.)

Now, for a limited period of time, borrowers may receive credit for past payments made on loans that would otherwise not qualify for PSLF.

You can visit the Public Service Loan Forgiveness (PSLF) Tool which will help you determine if an employer is considered a qualifying employer. Highlights of the program:

• The U.S. Department of Education will be offering a temporary opportunity to give borrowers credit for prior payments they made that would not otherwise count toward PSLF: Any prior payments made while working for a qualifying employer will count as a qualifying payment, regardless of loan type or repayment plan. Please note that the application for the Limited PSLP Waiver, must be submitted by October 31, 2022.
• The Department will also allow months spent on active military duty to count towards PSLF, even if the service member's loans were on a deferment or forbearance rather than in active repayment.

In the coming weeks, servicers will receive updated information from FSA to help you navigate these changes. If you encounter challenges working with your loan servicer, you should contact the FSA Ombudsman by visiting StudentAid.gov/feedback.

Repayment Calculator

Consider using a repayment calculator to estimate your monthly payment and the annual salary required to manage your student loans.

• FSA Repayment Estimator
• The College Board Big Future Student Loan Calculator

National Student Loan Data System (NSLDS)

You may access your federal student loan history though the U.S. Department of Education's National Student Loan Data System website.

NOTE: If you believe your federal student loan history is incorrect, you should contact your loan servicer.

Loans Servicers

Santa Clara University does not administer student loans repayment. You will be contacted by a loan servicer regarding repayment of your student loans. You may also view the contact information for your loan servicer at either StudentAid.gov or National Student Loan Data System (NSLDS).

NOTE: ECSI is the loan servicer for Santa Clara University Federal Perkins Loan program.

FSA Ombudsman

If you have been unable to resolve a dispute regarding your federal student loan you may consider contacting the Federal Student Aid Ombudsman For private educational loans, you will need to contact the Consumer Financial Protection Bureau Student Loan Ombudsman.