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Advice for Student Loan Borrowers

The Office of Financial Literacy and Office of Financial Aid and Scholarship Programs wants all student loan borrowers to be well-informed regarding their obligations, their borrowing history, their loan repayment options, and to how make sound borrowing decisions. The information below aims to provide students with resources, advice, and tools to assist them throughout their educational career.

Current News:

Repayment Restart: The U.S. Department of Education’s COVID-19 relief for student loans is ending this year. Student loan interest will resume starting on Sept. 1, 2023, and payments will be due starting in October.

Debt Relief: The Supreme Court issued a decision blocking the one-time student debt relief plan. Under the court’s ruling, the U.S. Department of Education (ED) has been prohibited from implementing the Biden-Harris Administration’s one-time debt relief program.

Information for Current Students:

  • Current Syracuse University students who are enrolled at least half-time are eligible for in-school deferment of federal student loans.
  • In-school deferment means that repayment is not required while the student is enrolled half-time. Please note that half-time enrollment may be different depending on your academic program and/or career.
  • Depending on the type of loan, the interest may be accruing while you are enrolled.

How to Stay Informed?

  • Know your borrowing history.

    • Review Your Borrowing History
      •  Once you’ve logged into studentaid.gov, click on your name in the top right corner to review your student Dashboard, My Aid, My Enrollment, and more
      • We recommend that students review their borrowing history at least once each academic year.

  • Understand how interest is accruing.

    • Federal Subsidized Loans
      • The U.S. Department of Education pays the interest (interest is not accruing) on Direct Subsidized Loans during these periods:
        • while you’re in school at least half-time,
        • for the first six months after you leave school (grace period), and
        • during a period of deferment (postponement of loan payments)
    • Federal Unsubsidized Loans
      • The interest will accrue on Direct Unsubsidized Loans while you are in school, in deferment, or in forbearance
        • Some students may elect to pay the interest that accrues, even when they are not required to make a payment.
    • Graduate PLUS Loans
      • The interest will accrue on Grad PLUS Loans while you are in school, in deferment, or in forbearance.
        • Students may choose to pay the accrued interest or allow the interest to be capitalized when they have to start making payments. 
        • Students receive an automatic deferment while enrolled in school at least half-time, and for an additional six months after graduation, leave school, or drop below half-time enrollment. Payments do not start until after this deferment period ends.

  • Understand repayment options, consolidation, default, and more