The pilot program for “Low Bono” and Union LRAP coverage is available for up to seven graduates of the Class of 2010 and 2011. For the Class of 2010 three slots are still open, and applications for the Class of 2011 are now accepted.
Student loan exit conseling
In order to keep your student loans in good standing, graduating students have to complete the exit counseling. If you are not sure what repayment plan or payment due date to choose, you may opt for the standard option and make changes later.
Please familiarize yourself with the Direct Loan Servicing account. Along with the LRAP application you have to provide documentation of your repayment plan selection which is available within the account summary information.
Department of Education Prepares to Verify Qualifying Public Service Employment!
Heather Jarvis recently posted the good news that the Department of Education will verify that employers qualify as public service organizations and will notify borrowers in writing of the number of qualifying payments made.
But first there is a 90-day period of public comment on this before it becomes final.
Public Service Loan Forgiveness (PSLF) in 5 Easy Steps
FREE Public Service Loan Forgiveness Webinars from Heather Jarvis.
http://askheatherjarvis.com
A week ago Heather Jarvis, a student loan expert, went public with a new website that offers a wealth of information about student loan repayment. If you plan to utilize the IBR and PSLF program you may want to follow her blog.
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Info Session Monday, April 18: The Financial Value of Your Law Degree
We are fortunate to have Jason DiLorenzo of GLAdvisor return this semester to make another presentation to Berkeley Law students. He made a very well received presentation at the Class of 2011’s “Tax Day” event. This session will be an expansion on that but is not limited to students going into the private sector. The information will be of value to all students. Please plan to take the time to hear him speak.
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The Financial Value of Your Law Degree:
A Presentation on How Recent Legislation Can Improve the Economic Value of Your J.D.
Learn what steps you need to take in order to position your debt, tax filing and finances to fully realize the benefits of these pivotal statutory student loan changes.
Monday, April 18
140 Boalt Hall
12:45-2:00pm
Presented by Jason DiLorenzo
• An examination of escalating debt levels’ effect in eroding a Law degree’s financial value and how recent events have reversed this trend markedly.
• The steps you need to take in order to maximize the benefits of these new programs and to mitigate the costs of your debt.
• Inherent conflicts of interest and common mistakes people make while navigating these programs and other financial matters.
• Q & A to follow
LRAP and student loan repayment information for graduating students
Please check out our Info Sessions and Webcasts on Student Loan Repayment and Financial Literary.
LRAP application check list for continuing participants
Checklist FOR CONTINUING PARTICIPANTS
- Employment verification, and a copy of a published job description if you changed your job or responsibilities
- For private loans, a current statement that shows your current balance, capitalized interest, interest rate, and monthly payment amount verification.
Sign up for Electronic Funds Transfer by following the EFT authorization instructions for UC Berkeley vendors. Please notify us of changes (address or employment change and/or pay increase) immediately by email and check the LRAP website for more details.
LRAP Fall 2011 application deadline
The deadline for Fall 2011 LRAP is May 1 and our online application is now available.
Are your Loans eligible for Public Service Loan Forgiveness (PSLF)?
Only Federal DIRECT Loans (Stafford, GradPLUS and consolidation loans) are eligible for PSLF. If you borrowed federal loans under the Federal Family Education Loan (FFEL) program, you have the option to consolidate your FFEL loans with Federal DIRECT Consolidation Loans. Keep in mind that the consolidation loan will enter repayment immediately after graduation without a grace period. You may want to consider delaying the processing of your Direct Consolidation Loan until closer to the end of your grace period.
Use your PIN to look up your federal student loans in the National Student Loan Data System.: www.nslds.ed.gov.