As a learning education loan debtor, you have got specific liberties and duties with respect to your loan.

Student Rights and Obligations

The principal purpose of this site is to offer up-to-date information about borrowers’ liberties, obligations, and re payment options readily available for each kind of education loan available.

Your Legal Rights as a Borrower:

  • You will be entitled to get exit counseling that will help you comprehend your payment obligation. Your loan is still due without having the exit guidance.
  • You are eligible to a payment routine.
  • The right is had by you to prepay without having any penalty.

The position as being a Borrower:

  • You have to provide information regarding alterations in your present title, address, and statuses of one’s college whenever you graduate or fall below half-time.
  • You have to participate in exit guidance.
  • You have to repay your figuratively speaking.
  • You should continue to make regular payments until your request has been granted if you apply for a deferment or forbearance.

Education Loan Services Web-based Forms

Extra Types

Loan Repayment Terms

  • Payment of the loan starts if the elegance duration ends.
  • Loan re payments are due in the day that is first of thirty days.
  • Payment quantity is dependent on the total amount lent.
  • The payment period may maybe maybe not go beyond ten years.
  • The University of Oklahoma delivers statements that are monthly loan borrowers. The statements result from a alternative party vendor, Heartland. Non-receipt of statements just isn’t a defense that is valid nonpayment. It’s the obligation for the debtor to cover the bill.

To review your loan information head to: Heartland. All loan that is monthly can come from ECSI, OU’s third-party merchant. For questions, please contact pupil Loan Services at (405) 325-5876 or e-mail us at

Payment Alternatives Available

AutoPay – Features Include:

  • Complimentary EFT Service
  • Never miss a repayment
  • No longer check always composing
  • Withdrawn from your own banking account in addition every month
  • Payment posted to your loan instantly

E mail us for info on beginning the autopay service at (405) 325-5876. Enable 10 days for OU to get your kinds for processing. A message acknowledgement is delivered to allow that EFT is known by you service is put up for you personally.

In person Checks or Money Instructions

  • Checks and Money purchases are accepted by mail and through the Payment Drop Box found in the floor that is first of Buchanan Hall.
  • Make checks and cash requests payable to: University of Oklahoma.
  • Create the true title associated with debtor in the check as it’s on OU records.
  • Once you understand your Sooner ID quantity, compose that on the check aswell.
  • Make a re re payment throughout the phone utilizing your bank account.
  • You’ll need your bank’s routing quantity as well as your bank checking account quantity.
  • Checks returned for inadequate funds (NSF) are evaluated a $25 solution charge.
  • United states Express, Discover, and Mastercard
  • In order to make credit cards re payment by phone, be sure to phone our education loan Service workplace, M-F: 8 a.m. To 3 p.m. CST (405) 325-5876.
  • Charge card laws prohibit us from storing charge card information. To be able to process business that is daily we close our credit card device at 3 p.m. CST.

Forms of Loans

We invite you to review the following information when you currently have a Perkins Loan. Should you’ll need help with finding information, please contact us.

Perkins loan is really a federally mandated loan with a present interest of five per cent. The mortgage is susceptible to the provisions that are following

CANCELLATIONS: you may possibly make an application for cancellations, when you’re utilized in specific sectors associated with the workforce that offer solutions to your community. Please contact our workplace to get detailed information about your career.

DEFERMENTS: you may possibly defer your loan whenever you are enrolled at least half amount of time in a qualified college, looking for work, or having financial difficulty.

FORBEARANCE: you could make an application for short-term postponement of re payment when you’re experiencing financial difficulty, illness, or other appropriate reasons. For more information, please contact our workplace.

SPOTLIGHTS: brand brand New Military Deferments at the time of 1, 2006 installment loan alternative mississippi july

You that recent federal legislation has added new military deferments for borrowers when you were awarded a Federal Perkins Loan, this is to notify. The Master Promissory notes finalized after June 30, 2006 contain detailed information regarding these deferments. Once you finalized a note that is promissory to then, the data is summarized below.

Effective July 1, 2006, a unique armed forces deferment had been produced, effective for Perkins loans which is why the very first disbursement had been made on or after July 1, 2001. As of July 1, 2006, a borrower that is qualified get a deferment for a period of time by which he/she came across the skills after July 1, 2001. The deferment shall maybe maybe perhaps not surpass a complete of 3 years and is applicable simply to durations during which borrowers are serving on active responsibility within a war or any other army operations, or nationwide crisis, or doing qualifying National Guard duty during a war or other armed forces procedure or nationwide crisis.

Perkins Loan Consolidation

Consolidation is refinancing all your federal student education loans into one loan via a lender that is private. This loan that is new have a fresh rate of interest, re re payment terms, and monthly premiums. Listed here student that is federal meet the criteria for consolidation: Federal Stafford loans, Federal Direct loans, Federal PLUS loans, Federal SLS loans, Federal Perkins loans, wellness Professional student education loans (HPSL) and Nursing School loans (NSL).

You may even manage to combine your loans that are institutional please contact our workplace for a listing of loan providers that offer this solution. The re payment terms of a consolidation loan could make payment of the figuratively speaking easier economically and far less confusing as you won’t have to steadfastly keep up with a few lenders that are different. Nevertheless, a number of the advantages obtainable in the student that is original might be lost after consolidation. Discuss your choices completely together with your loan provider.

To use for a consolidation loan, contact your Stafford loan provider. You have to additionally allow it to be aim to share with your loan provider regarding the Perkins loan.

Lew Wentz, Robey, Sells, Clark, Kaiser, and Retention Loans

You may possibly defer your loans if you’re nevertheless attending college at half-time that is least. For more information regarding your loan, please contact our workplace.

Credit Reporting Agencies

All loan activity is reported monthly to three nationwide credit reporting agencies, given below. To prevent getting your loan reported as past-due plus in standard to your credit agencies, be sure to make your payments because of the to begin every month.

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