If you borrowed federal student loans, you are required to complete an exit interview prior to graduation (federal financial aid requirement). You will learn about the loan repayment process, schedules, federal loan consolidation options, deferments, grace periods and more.

We can help you with any questions or issues, but complete exit counseling prior to making an appointment.

Bar Loans

  • Helps cover bar exam costs, prep course fees and some living expenses while studying for the bar.
  • Suggested application deadline: May 9.
  • You may borrow from any private lender you wish that may offer a bar loan, but carefully review loan terms/conditions.
    • Students have borrowed from the following lenders in the past (availability subject to change):
    • PNC
    • SallieMae

Repayment plans

Detailed information:


  • Up to 25 years of a fixed payment depending on loan debt volume.


  • Up to 25 years.
  • Payments start lower but increase every two years.
  • Total interest paid may be greater than plans with similar terms and fixed payments.

Income-Based (IBR)

  • Similar to Income Contingent but offers lower payments and Public Service Loan Forgiveness (PSLF).
  • Based on loan debt, adjusted gross income and family size.
  • You must be eligible for a partial financial hardship.
  • Payments at 15 percent of discretionary income.
  • After 25 years, remaining loan balance is forgiven, which is taxed.

Income Contingent (ICR)

  • Based on adjusted gross income, family size, and loan debt.
  • As income increases or decreases, so do your payments.
  • After 25 years, any remaining balance on the loan will be forgiven (may be taxed)

Pay As You Earn (PAYE)

  • Similar to Income-Based Repayment but offers lower payments.
  • Based on adjusted gross income, family size, and loan debt.
  • Must be eligible for a partial financial hardship.
  • Payments are 10 percent of discretionary income.
  • After 20 years, any remaining balance on the loan will be forgiven, which is taxed.
  • Eligible for Public Service Loan Forgiveness (PSLF).

Revised Pay As You Earn (REPAYE)


  • 10 year fixed payment
  • Highest monthly payment but lowest total interest over life of loan
  • Default repayment plan if no other is selected

Public Service Loan Forgiveness

This program cancels the balance of any interest and principal due on any Federal Direct Loan - including Direct Stafford, Direct PLUS, or Direct Consolidation Loan - that is not in default for borrowers who:

  • have made 120 monthly payments on a Direct Loan in a PAYE, IBR, income contingent or a standard repayment plan based on a 10-year repayment schedule
  • are employed in a "public service job" and have been employed in a public service job during the 120 payment period.

Visit the U.S. Department of Education website for more information.

Consolidation Information

There are some complex issues to think about regarding federal student loan consolidation.

If you received a student loan disbursement prior to July 1, 2006, that Stafford loan has a variable rate, unless you consolidated it prior to July 1, 2007. For loans disbursed prior to July 1, 2006, the interest rate is variable, adjusted annually on July 1. The variable rate is based on the 91 Day Treasury Bill (as of the last auction prior to June 1) plus 1.7% during in school and grace period, or plus 2.3% in repayment, not to exceed 8.25%.

If you want to lock the variable rate or combine it with your fixed rate Stafford loans, you want to wait until about a month to two before your six month grace period ends before consolidating so you do not lose the remainder of your grace period (consolidation loans become due within 60 days after they are booked).

You will need to decide whether to only consolidate any variable rate loans separately or to consolidate them with your other fixed rate loans. Because consolidation uses the weighted average rounded up to the nearest one-eighth of a percent, it may be more advantageous to keep the low variable rate loan consolidated separately, but you may prefer to have only one consolidation loan with all your loans together.

The interest rate for federal loan consolidation is the weighted average of all the federal loans you wish to consolidate rounded up to the nearest eighth of a percent. As of July 1, 2013 there is no cap on the consolidation rate. The rate is then fixed for the life of the loan (10 - 30 years depending upon your debt load). Most lenders, including Direct Loans, offer a .25% interest rate reduction for automatic electronic payment.  This perk to lower your interest rate is strongly encouraged.

Remember, if you have variable interest rate loans, the rates will change July 1 every year unless you consolidate. There will be an additional .6% added to the rate after the 6 month grace period ends; the repayment rate will be based on that higher rate if you do not consolidate.

A consolidation loan comes due 60 days after it is booked.

See for more information.

Loan Repayment Assistance

Read about Seattle University School of Law's Loan Repayment Assistance Program (LRAP) for graduates working in public interest employment.

Read about the federal public interest loan forgiveness plan that offers help for those working in public interest employment.

Federal Public Interest Loan Forgiveness documents are now available!

More information

Resources for more information on Pay As You Earn (PAYE), Revised Pay As You Earn (REPAYE), Income Based Repayment (IBR) and Federal Public Interest Loan Forgiveness Programs

Contact us

Student Financial Services (SFS)
Sullivan Hall, Second Floor
901 12th Avenue
P.O. Box 222000
Seattle, WA 98122-1090

SFS Hours

Monday - Friday:
9:00 a.m. to 4:30 p.m.

Late Hours*
Monday and Thursday
4:30-6:00 p.m.

*By appointment only

Hours are subject to change during exams, holidays, and summer session. Changes will be posted outside of the entrance to the Administrative Offices.

A drop box is located to the left of the Administrative Office doors for after-hours correspondence.


Please contact Student Financial Services at 206-398-4250 or should you have any questions.