Loan Office - Student Financial Services

News...

The Biden Administration announced the Student Loan Debt Relief Plan in August 2022. The plan includes loan forgiveness for:

  • Current students and borrowers with federally-held undergraduate, graduate, and Parent PLUS loans that have been fully disbursed by June 30, 2022.
  • Relief of up to $20,000 for Pell Grant recipients and up to $10,000 for non-Pell Grant recipients. 
  • To be eligible for debt cancellation, annual income must be less than $125,000 (for individuals) or $250,000 (for married couples or heads of household); borrowers who were dependent students in the 2021-22 year will be eligible for relief based on parental income, rather than their own.

Borrowers can view their loan balances and check their Pell Grant Status by logging into their Federal Student Aid account online at studentaid.gov.  (Don’t know your login and/or password? If you are unable to access your FAFSA (FSA) log-in or password, you can use the “Forgot My Username/Password” links provided on the Log In page.  For further assistance with your account, please consult the FSA Help Center.) More Information - The Biden-Harris Administration’s Student Debt Relief Plan Explained - For details about the plan, including Frequently Asked Questions, visit the Federal Student Aid webpage.

Apply / Get Notified - The application process will officially open at a later date. Sign up at https://www.ed.gov/subscriptions to be notified when the application is available.

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  • The University is committed to assisting our borrowers by implementing relief measures that are available to Brown borrowers.  For borrowers who request repayment relief due to COVID-19, a 3-month forbearance on loans to temporarily postpone repayment will be provided. For Federal Perkins Loans borrowers, we encourage you to consolidate your federal loans in order to take full advantage of other repayment relief options available to borrowers under the CARES Act.  These measures are offered in addition to existing deferment options available through each loan program.


Quick Links

Before You Borrow

Borrow Wisely - Financial Considerations Federal Loans
Loan Process - Application, Requirements, Disbursement Brown U Institutional Loans
PLUS Loan Application Process Private Loans
Loan Repayment Estimator TEACH Grants

Leaving Brown

Leaving Brown & Loan Exit Counseling - Graduating or Taking a Leave

Repay Your Loans

Grace Period Medical Loan Borrowers
Planning Your Repayment Postpone Repayment (Deferment/Forbearance)
Repay Your Federal Direct Loans Cancellation & Forgiveness
Repay Your Federal Perkins & Institutional Loans Consolidation
Understanding Interest Avoid Default & Keep Loans Current

Leaving Brown? All loan borrowers must complete  online loan exit counseling.
Undergraduate students: 
Learn more about the Brown Promise
Living @ Brown: Financial Considerations
Repay Perkins or institutional loans: online at heartland.ecsi.net. Use our Cheat Sheet to register.
Refunds:  If you have a student account credit balance, consider reducing your loans. Email [email protected]  
1098E tax forms: Interest paid on Perkins & institutional loans will be reported on January loan billing statements. 

The Wavemaker Fellowship program is designed to keep talented STEM and Design workers here in Rhode Island by helping to offset the burden of student loan debt. The program provides an annual refundable tax credit and professional networking.

We email important information to students' Brown email accounts. 

OLD NEWS:

  • As you may be aware, the U.S. Department of Education Office of Federal Student Aid released information about the CARES Act (the federal Coronavirus Aid, Relief, and Economic Security Act), which was signed into law in March 2020. The CARES Act provides relief to borrowers with federally held loans. It also allows Brown and other schools that hold Federal Perkins Loans to implement similar relief opportunities for federal student loan borrowers.