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Checklist for Graduates with
Access Group Loans
Before May 5 (expected time required: 3-5 minutes)
- File the Hardship Deferment request for your prior consolidation loan(s).
- Most graduates studying for the bar will be able to answer $0 for question 5 in Section 2 of the form.
- If you have $0 monthly income when completing the form, you do not need to provide loan payment calculations.
Simply write "I have no income" next to your answer.
- If you have an income, you will need to provide documentation of your income.
- Sign at the bottom of page 1 – only page 1 is needed.
- You may mail the form to Access Group's servicer, The Student Loan People, P.O. Box 24328, Louisville, KY 40224-0328 OR you may bring it to the Office. We will send a Fedex for Access Group borrowers on the evening of May 5.
- The deferment will automatically be for 12 months. Cancel the deferment as soon as you are able to make payments to retain deferment time for the future.
Before June 1 (expected time required: 25-30 minutes)
- Review the Financial Aid Office consolidation website: www.law.georgetown.edu/finaid/loanconsolidation/
- Complete your consolidation request for current year loans (and any other Stafford Loans that have not been consolidated).
- Unless you want to move your prior consolidation loans to Access Group, do not include prior consolidations in this new consolidation loan.
- Do not include any Perkins Loans if you have them – add them January 15 to utilize your interest-free grace period.
- To ensure you get the longest repayment term possible, you should list the Perkins and other commercial loans in the “do not consolidate” section. Your repayment term is determined by the amount of education debt you have.
- If you are adding Perkins Loans later, use your grace period by providing a graduation date of “11/06”. (When reviewing the promissory note pdf, question #26 should show this date.)
- The recommended repayment plan selection is “Easy Pay 3 Step” for this and your prior consolidation IF you have commercial loans. This will give you more money each month to pay down the higher-cost commercial loans.
- Print, sign and send the application to Access Group for processing.
- If you have placed a deferment on your prior consolidation loan, this new consolidation loan will automatically have that deferment applied as well. Cancel your deferment as soon as you are able to make payments to retain deferment time for the future.
November 16 (expected time required: 5-7 minutes)
- Recommended time to cancel your Hardship Deferment
- Log in to your account at: www.thestudentloanpeople.com. Once logged in, use the customer service contact link at the right to send an email. The email should include a request to remove your loans from the deferment status and the effective date desired.
January 15, 2007 (expected time required: 10-15 minutes)
- If you have Perkins Loans and you wish to consolidate them, contact Access Group to have them added.
- Perkins Loans have cancellation provisions for graduates that work as district attorneys and for those that provide direct benefits to minors. If your projected career path may include these jobs in the future, do not consolidate the Perkins Loans.
- Access Group will contact the Perkins Loan holder (Main Campus for Law Center Students) and pay off the Perkins Loans.
Revised Apr. 28, 2006
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