Mitchell Hamline School of Law

Financial Aid

Federal Loan Repayment Information Resources

Welcome graduates!

While loan repayment can seem complicated and worrisome, we are here to help you understand your options and manage successful loan repayment. Remember that choices you make now can affect your later options. Understanding your loan details, available repayment options, and forgiveness program requirements will help you combine these resources to maximize your benefits.

Know your loans! Complete required loan program exit interview session

Graduating students must complete Federal Loan Exit Counseling located on studentloans.gov. This is a no obligation, informational, personalized session designed to prepare you to talk with your loan servicer about loan repayment options and loan forgiveness programs. Federal loan details are available on the National Student Loan Data System (NSLDS) and will be reviewed during the exit counseling session. Borrowers with Perkins Loans MUST complete an additional Perkins Loan exit interview.

  • Exit Counseling (link)
  • NSLDS website (link)
  • Perkins Loan Exit Interview (link)

    • Repayment advice from non-federal sources

    These are non-federal websites which provide added information about specific repayment topics.

    • IBRinfo.org: Register with IBRinfo.org, and you will receive update notices about developments to both Income Based Repayment (IBR) and Public Service Loan Forgiveness (PSLF). No spam. Excellent, accessible loan repayment information and calculators.
    • FinAid: A website published by financial aid expert—and financial aid repayment calculator creator—Mark Kantrowitz. Find loan repayment calculators to help you compare repayment scenarios. Read the excellent and important section about staying in touch with your loan’s servicer. Your services have options to keep your loans and credit in good standing even if you can’t afford to make payments.
    • Student Loan Borrower Assistance: A program of the National Consumer Law Center. Provides information and self-help tools to inform you of resources and courses of action. Well written!
    • Ask Heather Jarvis /GL Advisors: Ask Heather Jarvis is maintained by Heather Jarvis, formerly of Equal Justice Works.  Heather consults with GL Advisors and maintains up-to-the-minute understanding about federal student loan repayment developments. Heather’s webinars emphasize the importance of combining Income Based Repayment with Public Service Loan Forgiveness to maximize your repayment benefits. Understand this combination to maximize your loan forgiveness.
    • Minnesota Loan Repayment Assistance Program (LRAPMN): Provides payment assistance once you have established your repayment method.
    • Know Your Repayment Options!
    • Know Your Loan Forgiveness Programs!
    • Public Service Loan Forgiveness: 6 Things To Know During Covid

    Department of Education

    The Department of Education websites listed below provide important program details that are critical to making your initial choices about repayment options.

    Non-federal Bar Study Loans

    Graduates seeking additional loan funds can consider a Bar Study Loan. We provide a sample of lenders on the FastChoice web location. Bar Study Loans are private loans that are used to fund bar prep courses and living expenses after graduation, but before the bar exam. Before borroing a Bar Study loan, check with the Financial Aid Office before graduation to ensure there is no remaining federal loan eligibility. Bar Study Loans are subject to credit qualification, and the terms of the loan are set by the lender. Non-federal loans cannot be consolidated with federal student loans, cannot be included in federal income-based repayment programs, and cannot be included in federal loan forgiveness programs.