Perkins Loan Repayment
Exit Counseling - You need to do this
when you graduate or withdraw from College of Saint Mary by logging on to www.mapping-your-future-org. If you have any questions, please call the
CSM Bursar at (402) 399-2650 or (800) 926-5534 x2650. Failure to comply may result to a
"Hold" on your student account.
The "Hold" will prevent you from viewing your grades, obtain
transcripts or diplomas, or participate in graduation.
Grace Period - is the period of time
before you begin or resume repaying a loan.
- Initial grace period - 9 months from the date you cease to be
enrolled at least as a half-time student.
- Post-deferment grace period - 6 months after each eligible deferment
for which you submit properly certified forms.
Interest Rate - Fixed rate of 5%
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 for billing functions of
my Perkins loan.
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. 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. To access and print the form, please visit www.mycampusloan.com and click 'Downloadable
Forms.' 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.
Partial Loan
Cancellation Benefits - You are eligible to apply for partial cancellation of
loan principal and accrued interest on your Federal Perkins loan/s if you meet
one of the eligibility criteria. Please
visit www.mycampusloan.com
for more information.
Loan
Rehabilitation Program - Under this program you have the opportunity to request
the rehabilitation of a defaulted loan.
Rehabilitation means that, after making 12 on-time,
consecutive monthly payments of an amount agreed to you by College of Saint Mary, your loan will be returned to regular
payment status, the default will be removed from your credit history, and you
will again be eligible to borrow Title IV federal funds.
Forms are
available online at www.mycampusloan.com.
