12
Paying for your degree often means taking on federal loans — and that brings questions about how the money reaches you, what you'll owe later, and whether any of it can be forgiven. We've pulled the most common questions into one place so you can jump straight to what applies to you.
In This Article
Receiving Loans
Repaying Loans
Loan Forgiveness
Loans from Other Institutions
Receiving Loans
What kind of federal loans do I have?
You can review all your federal loans through the National Student Loan Database portal.
To review the details of your federal loans:
-
Click "Find my Servicer."
-
Log in to your loan servicer's site.
-
Scroll down to the Loan Breakdown section.
For information about how to apply for a loan, start here.
For further information about the loans themselves, contact your loan servicer.
When and how are loans disbursed?
If you're enrolled in our M.A.T. or Advanced Certificate program, you can apply for a Direct Unsubsidized Loan each term to help cover tuition costs.
Once you submit all required federal aid documentation, we review your request for the upcoming available disbursement. Federal aid disbursements happen every Thursday from the beginning of the term through the end of the active term.
If you have any federal eligibility flags, we hold your disbursement until the flag is resolved. If the flag isn't resolved within the active term, we can’t process your federal aid request.
Disbursement Dates
The dates below are when federal aid begins disbursing to student accounts each term. They are not guaranteed disbursement dates.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
How are refunds calculated?
We release once the full amount of your out-of-pocket cost for that term has been satisfied, and up to two weeks after the disbursement date of your direct loan.
Here's how a refund works in practice.
-
You have an out-of-pocket fall term cost of $1,000
-
You take out a direct loan of $1,400.
-
$1,400 is applied toward your $1,000 out-of-pocket tuition balance, which fully covers it and leaves a credit balance of $400.
-
Two weeks after the disbursement date of the direct loan, we direct deposit or mail your $400 credit balance as a refund.
Note: Anticipated awards or partner sponsorships from your employer may show up on your account as pending, but they don't count as paid against your charges until we've received the funds.
How will I receive my refund?
The default refund method is a check sent to your address on file.
We also release refunds via direct deposit. Learn how to enroll in direct deposit here.
Repaying Loans
How much will my loan cost to repay?
Any Direct Unsubsidized Loans disbursed while you're at Relay must be repaid to the federal government, and will include interest. Interest begins accruing from the date of disbursement and is subject to change annually.
The interest rate for Direct Unsubsidized Loans is 8.07% for loans first disbursed on or after July 1, 2026.
When do I need to start repaying my loan?
After you graduate, leave school, or drop below half-time enrollment, you'll have a six-month grace period before you're required to begin repayment.
During this period, your loan servicer will send you repayment information and notify you of your first payment due date. At that point, you're responsible for making payments on the full balance of your loans, plus any interest that has accrued. The total amount you'll repay to the federal government depends on the total amount borrowed and the repayment plan and timeline you select.
|
|
|
|
How do I complete my "Exit Counseling"?
Exit Counseling is a short online course that teaches you how to properly repay your federal loans. After receiving federal financial aid, you need to complete it if you meet any of the following:
-
You're expecting to graduate.
-
You've dropped below half-time enrollment.
-
You withdraw or stop attending Relay.
-
You transfer to another school.
-
You take a leave of absence greater than 180 days.
How to complete exit counseling
Before beginning your Exit Counseling session, you'll need the following information:
-
Your FSA ID, or PIN
-
Your SSN and state driver's license/identification
-
Name, phone number, and address of your nearest relative
-
Name, phone number, and address for two references (different from your nearest relative)
-
Name, phone number, and address of your current or future employer (if known)
Exit Counseling takes 20–30 minutes to complete, and you must finish it in one session. Depending on which type of aid you received during your time at Relay, you may need to complete more than one Exit Counseling.
|
|
|
Loan Forgiveness
What is student loan forgiveness?
Student loan forgiveness is when you're relieved of the responsibility to repay a portion or all of your federal student loan debt. Forgiveness is only available for federal direct loans. FFEL Program Loans, Perkins Loans, and private loans are not eligible.
There are two kinds of loan forgiveness to know about: Public Service Loan Forgiveness and Teacher Loan Forgiveness.
Public Service Loan Forgiveness
Public Service Loan Forgiveness (PSLF) forgives the remaining balance of your Direct Loans after you meet specific requirements. Those who work in public service, whether for the government or a nonprofit organization, may be eligible.
Eligibility
To qualify for PSLF, you must:
-
Be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, including U.S. military service. (Defined here.)
-
Have Direct Loans, or consolidate other federal student loans into a Direct Loan. (Defined here.)
-
Repay your loans under an income-driven repayment plan. (Defined here.)
-
Make 120 qualifying payments. (Defined here.)
-
Work full-time. (Defined here.)
How to apply
The PSLF Help Tool will guide you through getting started on the PSLF form. Once you've filled out your information, print out the form for you and your employer to sign.
FedLoan Servicing will review your information and contact you if you qualify. They may request additional documents, such as pay stubs or W-2s. They'll also tell you how many qualifying payments you've made so far and how many more you'll need before you're eligible. There is currently no cap on the amount forgiven under PSLF.
Note: We recommend you submit the PSLF form annually, or whenever you change employers, to track your progress toward PSLF eligibility. It makes things much easier when you're ready to apply for forgiveness after ten years.
|
|
|
|
Teacher Loan Forgiveness
Teacher Loan Forgiveness is a federal program that helps teachers from low-income schools repay their student loan debt. The amount forgiven varies depending on the subject you teach:
-
Most elementary school teachers receive up to $5,000.
-
Secondary school teachers who teach math or science may be eligible for up to $17,500.
-
Special education teachers at either the elementary or secondary level may be eligible for up to $17,500
Eligibility
To qualify for Teacher Loan Forgiveness:
-
You cannot have an outstanding debt on Direct Loans or Federal Family Education Loan (FFEL) Program loans as of October 1, 1998.
-
You must be employed as a full-time, highly qualified teacher for five complete academic years in a row, with at least one of those years occurring after the 1997–98 academic year.
-
You must have been employed at an elementary school, secondary school, or educational service agency that serves low-income students.
-
You must have taken out the loan(s) for which you're seeking forgiveness before completing your five academic years of qualifying teaching service.
How to apply
Apply by submitting a completed Teacher Loan Forgiveness Application to your loan servicer.
The chief administrative officer of the school or educational service agency where you completed your qualifying teaching service must complete the certification section.
Note: If you're requesting forgiveness of multiple loans with several loan servicers, you must submit a separate form to each one.
|
|
|
|
Things to know about loan forgiveness
You may not receive a benefit for the same qualifying payments or period of service under both Teacher Loan Forgiveness and Public Service Loan Forgiveness. For example, if you make payments on your loans during your five years of qualifying employment for Teacher Loan Forgiveness and then receive forgiveness for that service, those payments will not count toward Public Service Loan Forgiveness.
Loans from Other Institutions
Can I defer my loan from another institution?
Possibly. Every month, we certify eligible matriculated students in the National Student Clearinghouse (NSC), which reports on our behalf to the National Student Loan Data System (NSLDS) and many private loan providers. This takes place by the 20th of every month throughout the year. We only certify enrollment for the current term — we do not certify enrollment for future terms. If you're seeking to certify future terms for loan deferment, you'll need to wait for those terms to begin before any prior loans can be deferred against them.
To have your loans deferred as outlined by loan providers, you must be:
-
A student. Learn what Relay’s official definition of an enrolled student is here.
-
Fully enrolled at Relay in the current term. Students who are provisionally admitted cannot have their loans deferred.
-
Enrolled at least half-time. If you fall below half-time (4+ credits), we report you as Less-Than-Half-Time, and you do not qualify for loan deferment.
-
Enrolled in a Master of Arts in Teaching (MAT) or an Advanced Certificate (AC) program. Any other programs do not qualify for loan deferment.
Note: We certify all enrolled students except those in Professional Education (Leadership) programs.
Because we report monthly, there are no next steps for you to take. But, if your provider is requesting payments, see "If you're being asked to pay" below.
If you're being asked to pay
If you're newly admitted and receiving requests for loan payments, wait until the 20th of the month for us to report your enrollment. If you need a form filled out as soon as possible, you can proceed before then — form requests usually take up to a week to fulfill.
If your provider is requesting payments, start by contacting them to ask what they need in order to defer your loans. Your loan provider can clarify their process. From there, follow the steps for your loan type below.
Steps for Federal Loans
You can apply for a loan deferment by contacting your loan servicer, who will tell you which deferment types you may be eligible for.
-
Find your servicer information by logging in to your account with your FSA ID
-
Select "View loan servicer details" on your Dashboard.
-
Contact your servicer to ask about the deferment types you may qualify for.
-
To learn more, review these frequently asked questions about loan deferment.
If you'd like us to complete a specific form, complete our In-School Verification Form. If you'd like an enrollment verification letter instead, complete our Enrollment Verification Request Form.
Steps for Private Loans
The National Student Clearinghouse reports to most private loan providers, but not all of them. If you have a private loan that NSC doesn't service and you'd like to defer it:
-
If you'd like us to fill out a specific form, submit an In-School Verification Form and email it to [email protected].
-
If your loan provider doesn't provide a form, we can provide an enrollment verification letter instead — submit an Enrollment Verification Request Form.
You'll likely need to meet the same requirements listed above to defer your loans, but ask your provider for specifics.
|
|
|
|
Things to know
Form requests usually take up to one week to fulfill, so plan ahead if your provider has a deadline.
If you graduate or exit Relay — whether you withdraw, take a leave of absence, or are administratively or programmatically withdrawn — you're no longer enrolled, and we won't report your enrollment to the Clearinghouse. If you transfer and enroll into a Teacher Certification/Licensure program (or any other non-MAT/AC program), you no longer qualify for loan deferment, and we'll report your exit from your deferment-eligible program at the time of the transfer
