Collections

Collections


PERKINS LOANS

FOREBEARANCE/DEFERMENT BENEFITS

To receive any deferment benefit, the borrower must make a written request to Income Accounting and Student Loan Services (155 SSB), and provide the documentation required to prove eligibility. The borrower is responsible for submitting the appropriate request and supporting documentation timely, or the request may be denied. Following is a list of provisions that might be available to a Perkins loan borrower, depending on the time period when the loans are borrowed. PLEASE READ YOUR PROMISSORY NOTES CAREFULLY FOR SPECIFIC PROVISIONS.

  1. FOREBEARANCE
  2. STUDENT
  3. ECONOMIC HARDSHIP
  4. UNABLE TO FIND FULL-TIME EMPLOYMENT
  5. FELLOWSHIP
  6. REHABILITATION
  7. MILITARY
  8. MEDICAL DISABILITY
  9. INTERNSHIP/RESIDENCY
  10. OFFICER IN U.S. PUBLIC HEALTH SERVICE
  11. CANCELLATION SERVICES

CANCELLATION BENEFITS

To receive any cancellation benefit, the borrower must make a written request to Income Accounting and Student Loan Services (155 SSB), and provide documentation required to prove eligibility. The borrower is responsible for submitting the appropriate request timely, or the request may be denied. The cancellation is available only when Perkins Loan money ceases and services below will be performed full-time for a year. Following is a list of cancellations that might be available to a Perkins loan borrower, depending on the time period when the loans are borrowed. PLEASE READ YOUR PROMISSORY NOTES CAREFULLY FOR SPECIFIC PROVISIONS. 

  1. TEACHING
  2. EARLY INTERVENTION SERVICES
  3. LAW ENFORCEMENT OR CORRECTIONS OFFICER
  4. NURSE OR MEDICAL TECHNICIAN
  5. CHILD OR FAMILY SERVICE AGENCY
  6. HEAD START
  7. MILITARY SERVICE
  8. VOLUNTEER SERVICE
  9. DEATH AND DISABILITY

PRIMARY CARE, HEALTH PROFESSION, PHARMACY, NURSING AND INSTITUTIONAL LOANS DEFERMENT BENEFITS

Deferments for internship/residency, fellowship training, military training and other programs may be available. The individual loan program promissory note outlines the deferment benefits available in each of these loan programs. 

CANCELLATION BENEFITS

If there is a cancellation benefit, other than death or disability, it will be listed in the individual loan program promissory note. 

SHORT TERM LOANS

Short term loans are given for books, tuition, and student insurance. The short term loan application is obtained at the Financial Aid Office (105 SSB). A $15.00, non-refundable processing fee is paid at the cashiers’ windows (165SSB). Bring the completed application to Room 155 to sign the promissory note. The loan approval is based on your credit bureau report and previous short term loan history. Interest accrues from the day the loan is approved at 1% a month. If the loan is not paid by the due date, a registration and transcript hold will be placed until the loan is paid. Interest and late charges will continue to accrue. At thirty days or more past due, the loans may be referred for collections or litigations. 

STAFFORD/SLS/PLUS/HEAL LOANS

The lender for these loans is the bank or credit union you designated as your lender. You may have borrowed from more than one bank or credit union. The University of Utah does not collect on these loans. They are usually collected by a secondary market or loan servicer. The following is a partial list of loan servicers: 

Education Loan Servicing Center
1 800 824-7045 

EduServ Technologies
1 800 342-5475 

Sallie Mae
1 800 292-6868 

UNIPAC
1 800 456-4757