Nursing Loan Repayment 

Exit Counseling - You need to complete this when you graduate or withdraw from College of Saint Mary.  Please call the Bursar at (402) 399-2650 or (800) 926-5534 x2650 for an interview package. 

 

Grace Period: 

 

Initial Grace Period - 9 months from the date you cease to be enrolled at least as a half-time student in a collegiate nursing school, in a program that leads to a baccalaureate or graduate degree in nursing. 

 

Post-deferment Grace Period - 6 months after each eligible deferment for which you submit properly certified forms. 

 

Immediately follows completion or termination as a full-time student or a half-time student for loans received after November 17, 1971.  During the grace period, which is nine consecutive months long, repayment of principal is not required and interest does not accrue.  

  

Interest Rate - Fixed rate of 5% and it will begin to accrue 6 months after you cease to be a half-time student in a collegiate nursing school, in a program that leads to a baccalaureate or graduate degree in nursing. 

 

Minimum monthly payment - $40.00 or more if this amount is not sufficient to repay the loan over a ten-year period.  I understand that I need to forward all my payments to Campus Partners, being the college-servicing agent. 

  

Accelerated Payments - You may pay future installments without penalty; however, these accelerated payments will not apply to future installments unless you do the following: 

1)         Attach a written request to your payment; 

2)         Send an amount sufficient to cover all amounts due plus the complete amount for future installments you want to pay.    

 

Note:  Late charges and collection fees that become due might preclude accelerated payments from covering the installments you intend to pay.  Payments in excess of the amount due that do not cover complete future installments will be applied to the loan principal balance, thus reducing any future interest that will accrue. 

  

Deferment of Payments - You may request to defer the repayment of your loan/s and to interrupt your repayment period if you are enrolled at least as a half-time student in a collegiate nursing school, in a program that leads to a baccalaureate or graduate degree in nursing.  To apply for a deferment of payments you must complete a deferment request form and submit this form to College of Saint Mary or to Campus Partners.  You should complete and mail this form immediately upon receipt of the first bill after you are eligible to request deferment of payments.  If you are unable to make your loan payments and if you are not eligible for any kind of deferment, call the Bursar (402) 399-2650.  To download form, please visit www.mycampusloan.com.