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Rowan-Virtua SOM

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NOTE: If you are anticipating a credit balance, or refund from your student loan, it will be generated within 14 calendar days of the disbursement date.

Just Announced: Student Loan Payments Extended

The Biden administration is, once again, extending the pause on federally-held student loan payments and interest accrual. “Payments will resume 60 days after the Department is permitted to implement the program or the litigation is resolved, which will give the Supreme Court an opportunity to resolve the case during its current Term,” according to the Department of Education. “If the program has not been implemented and the litigation has not been resolved by June 30, 2023 – payments will resume 60 days after that.” this time keeping the benefit in effect through December 31. The announcement follows the White House’s continued extension of the loan moratorium on student loan payments and interest accrual, set in place at the outset of the pandemic in March 2020. 

When the COVID-19 emergency relief period ends, regular loan interest rates will apply.

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On May 11, 2022, the Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 2.05%. The chart below shows the interest rates for Graduate/Professional Direct Unsubsidized Loans and Direct PLUS Loans first disbursed on or after July 1, 2022 and before July 1, 2023.

SOM Graduating Class of 2023 Exit Interview Date will be March 21, 2023. Full class meeting is scheduled immediately following. NO CLERKSHIPS ARE TO BE SCHEDULED ON THAT DATE.