Biden-Harris Administration's Student Debt Relief Plan

President Biden Announces New Actions to Provide Debt Relief and Support for Student Loan Borrowers: 
1. The Secretary of Education initiated a rulemaking process aimed at opening an alternative path to debt relief for as many working and middle-class borrowers as possible, using the Secretary's authority under the Higher Education Act.
2. The Department of Education (Department) finalized the most affordable repayment plan ever created, ensuring that borrowers will be able to take advantage of this plan this summer—before loan payments are due. This plan helps the typical borrower save more than $1,000 a year.

For more detailed information please check the Department of Education website 

Congress recently passed a law preventing further extensions of the payment pause. Student loan interest will resume starting on Sept. 1, 2023, and payments will be due starting in October.

Due to court action, loan forgiveness is currently blocked. Applications are currently closed. If you've already applied, processing is currently blocked as well. Check with the US Department of Education for more details




The Department of Education is reducing interest rates to 0% and suspending payments on all Federal Direct Stafford Loans. All students are qualifying for this automatically and it takes effect March 13, 2020 to 60 days after the supreme court makes a decision on loan the Biden loan forgiveness plan or 60 days after June 30, 2023, whichever comes first. Loans include:

  • Parent PLUS
  • Grad PLUS
  • Subsidized and Unsubsidized Federal Direct Stafford loans  

Does not include Perkins, Private, or any older FFEL type loans
For more information, see the Coronavirus and Forbearance Loan Information announcement and Who's My Loan Servicer? on the Federal Student Aid website. You will find a detailed FAQ for more specific questions.


Loans are funds that must be repaid. Students should only borrow the amount that is absolutely necessary. 

It is a good idea to project what your total borrowing needs will be throughout your college career, and to be aware of what the necessary payments will be upon earning a degree.

The amount of the loan is determined by:

  1. Cost of attendance
  2. Loan eligibility
  3. Year in school
  4. Other aid already awarded 
Thumbnail of A Minute to Learn It - Borrowing Student Loans

Types of Loans

There are many types of loans available for students at San Jose State University, including: 

Undergraduate Loans

Graduate/Parent/Professional Loans

Other Loans

  • Alternative Loans (Private Lenders)
  • Short-Term Loans: Short-Term (Emergency) loans are available through the Bursar's Office. To be eligible you must have no outstanding debts to the university and must have sufficient financial aid or be gainfully employed. Contact the Bursar's Office for more information.

Information about Loans

Steps to Accepting Loans

  1. Students accept loans in their MySJSU - Instructions to Accepting  a Federal Direct Stafford Loan. [pdf]
  2. First time student loan borrowers at SJSU, must complete the on-line Entrance Loan Counseling session prior to receiving their first loan disbursement. Entrance Loan Counseling is an online session which addresses interest rates, deferments, and how to avoid default. There are no exceptions to this federal requirement. Make sure San José State is selected as your school when completing Entrance Loan Counseling.
  3. Students MUST eSign the Master Promissory Note prior to receiving a loan disbursement (must be signed every 10 years).  The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education. 


  • Fall 2023/Spring 2024 deadlines to accept loans:
    • December 8, 2023 for students attending Fall 2023 only
    • April 26, 2024 for Academic Year loan(s), or Spring 2024 only

General Info

  • Most loans are available for fall and spring semesters. 
  • Summer loans are evaluated on a case-by-case basis. Visit the Summer Financial Aid web page for more information.
  • Students must maintain updated information with the U.S. Department of Education Direct Loan Servicing Center. Report the following changes, if any:

    • Name, address or phone number change
    • Transferring to another school
    • Leave of absence, withdrawal from school, or dropping below half-time enrollment
    • New graduation date

Exit Loan Counseling

As a recipient of funds from the Federal Direct Stafford Loan Program, students are required to complete an exit loan counseling session within sixty (60) days of your last date of attendance at SJSU.

This counseling session covers the following federal student loan types:

  • William D. Ford Federal Direct Loan Program (DL)
    • Direct Subsidized Loans
    • Direct Unsubsidized Loans
    • Direct Grad PLUS Loan
  • Federal Family Education Loan Program (FFELP)
    • Subsidized Federal Stafford Loans
    • Unsubsidized Federal Stafford Loans
    • Federal PLUS Loans (for graduate/professional students)

Go to to complete online exit loan counseling.

Loan Consolidation

Loan consolidation allows you to refinance any or all eligible outstanding federal student loans and create a single new loan with one monthly payment. The new loan will have a fixed interest rate, new terms, and may have an extended repayment period of up to 30 years.

For more detailed information, go to the Loan Consolidation web page.

Links to More Information