Thank you for your patience. Thus far we processed all applications up to ID no. 628.
Rules for Economic Hardship Deferment have changed
In order to obtain Economic Hardship Deferment for federal DIRECT loans, borrowers must either receive some form of government assistance, work full-time while earning less than 150% of the poverty level, or serve in the Peace Corps.
While a deferment application is being processed the borrower must continue to make payments, or request forbearance.
For more information please visit http://studentaid.ed.gov/ or call Direct Loan Servicing (ACS) at 1-800-848-0979.
Bar Study Loan Options for Graduates of the Class of 2011
Three private lending institutions provide bar study loans: Wells Fargo, Citibank, and Sallie Mae.
GL Advisor provides a free Bar Study Loan Comparison Analysis that helps prospective borrowers to choose the best loan.
The LRAP provides coverage for up to $10,000 bar study loans.
LRAP application process
Thank you for your patience. Thus far we processed all applications up to ID no. 589.
Direct Loan (ACS) IBR-application process
If you opted for IBR and submitted the online application with (Direct Loan (now operated by ACS), please make sure you follow up with your income documentation even if your current income is $0. This is a requirement for borrowers entering the repayment phase under IBR. According to a school hotline representative borrower’s DIRECT loans will be placed in administrative forbearance while the IBR application is being processed.
We suggest that you continually monitor your student loan accounts.
Direct Loan (ACS) deferment / forbearance application process
Forbearance: currently the Direct Loan website (now operated by ACS) only allows “Reduced Payment Forbearance”, and all borrowers seeking to temporarily postpone payments must call the lender.
Economic or Unemployment Hardship Deferment: Direct Loan (now operated by ACS) no longer offers administrative forbearance while a deferment application is processed. You, as a borrower, must request forbearance for that period.
Should you have any questions about your repayment status please call your lender and make sure you don’t miss the first or next due payment. In order to postpone your payment you must contact your lender no later than approximately 5 days before the due date.
We suggest that you continually monitor your student loan accounts.
Direct Loan Servicing (ACS) – Payment History
Direct Loan Services is now operated by ACS-Education and recently transitioned to a new website: myEDaccount.com. For borrowers currently in repayment, the payment history prior to the new website is no longer accessible.
ACS-Education is still working on technical challenges and a school hotline representative did not have specific information when and if the payment history prior to the new website will be made available. If so, it may be through another website.
Create a Spending Plan Information Session (10/26)
Wednesday, October 26
12:50 PM – 1:50 PM
Create a Spending Plan Information Session
170 Boalt Hall
Create a Spending Plan and Better Manage your Student Loans 1Ls: Plan to attend the info session aimed at taking control of your spending and planning your borrowing while at Berkeley Law. This session will enable you to evaluate your spending, assist in reducing your student loan debt, avoiding credit card debt, and becoming overall budget savvy. Download our Spending Plan spreadsheet and bring your laptop to the session. All students are welcome!
Create A Spending Plan and Better Manage Your Student Loans
The “Spending Plan” workshop is postponed, and will now take place on Wednesday, October 26, at 1 PM in Boalt 170.
Later this week we will provide more details.
Student Loan Repayment Plan Verification
In order to verify your loan repayment plan, please submit a copy of the “Print Loan Summary Letter”, which is found in the Message Center at the new Direct Loan website www.myedaccount.com. This loan summary includes your first due date and payment amount needed to calculate your LRAP.