Being education loan debtor, you’ve got particular legal rights and obligations with respect to your loan.

Student Rights and Obligations

The principal purpose of these pages is always to provide up-to-date informative data on borrowers’ liberties, obligations, and re re payment choices designed for every type of education loan available.

Your Legal Rights being a Borrower:

  • You will be eligible to get exit guidance that will help you comprehend your payment responsibility. Your loan continues to be due with no exit guidance.
  • You might be eligible for a payment routine.
  • You’ve got the right to prepay without having any penalty.

The position as a Borrower:

  • You have to offer details about alterations in your name that is current, and statuses of one’s school once you graduate or fall below half-time.
  • You have to participate in exit guidance.
  • You have to repay your figuratively speaking.
  • In the event that you submit an application for a deferment or forbearance, you ought to continue steadily to make regular repayments until your demand happens to be issued.

Education Loan Services Web-based Forms

Extra Forms

Loan Repayment Terms

  • Payment of the loan starts once the elegance duration ends.
  • Loan re re payments are due regarding the very first time of each and every month.
  • Payment per month quantity will depend on the total amount lent.
  • The payment period may perhaps perhaps not go beyond a decade.
  • The University of Oklahoma delivers month-to-month statements to loan borrowers. The statements originate from a party that is third, Heartland. Non-receipt of statements just isn’t a defense that is valid nonpayment. This is the obligation of this debtor to pay for the bill.

To examine your loan information head to: Heartland. All month-to-month loan statements should come from ECSI, OU’s third-party merchant. For concerns, please contact pupil Loan Services at (405) 325-5876 or e-mail us at

Payment Alternatives Available

AutoPay – Features Include:

  • Complimentary EFT Service
  • Never ever miss a repayment
  • No longer check always composing
  • Withdrawn from your own bank-account on top of that every month
  • Payment posted to your loan straight away

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

In person Checks or Cash Requests

  • Checks and Money purchases are accepted by mail and through the Payment Drop Box found in the very first floor lobby of Buchanan Hall.
  • Make checks and cash sales payable to: University of Oklahoma.
  • Create the title of this debtor from the check because it is on OU records.
  • Once you understand your Sooner ID quantity, compose that on the check aswell.
  • Produce a re payment over the telephone making use of your bank checking account.
  • You’ll need your bank’s routing quantity and your bank checking account quantity.
  • Checks returned for inadequate funds (NSF) are evaluated a $25 service cost.
  • United states Express, Discover, and Mastercard
  • To create a credit card 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 keeping bank card information. To be able to process day-to-day business, we close our credit card device at 3 p.m. CST.

Forms of Loans

Whenever you actually have a Perkins Loan, we invite one to review listed here information. Should you may need advice about finding information, please contact us.

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

CANCELLATIONS: you could make an application for cancellations, whenever you are used in particular sectors of this workforce that offer services into the community. Please contact our workplace to get detailed information about your career.

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

FORBEARANCE: you may possibly make an application for short-term postponement of re re payment if you’re experiencing hardship that is economic illness, or any other appropriate reasons. For more information, please contact our workplace.

SPOTLIGHTS: brand brand New Military Deferments at the time of July 1, 2006

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 knowledge is summarized below.

Effective July 1, 2006, a fresh army deferment had been produced, effective for Perkins loans for which the initial disbursement was made on or after July 1, 2001. At the time of July 1, 2006, a borrower that is qualified get a deferment for a period of time by which she or he came across the skills after July 1, 2001. The deferment shall perhaps perhaps not exceed a complete of 3 years and is applicable simply to periods during which borrowers are serving on active responsibility within a war or other army operations, or nationwide crisis, or doing qualifying National Guard duty throughout a war or other armed forces procedure or emergency that is national.

Perkins Loan Consolidation

Consolidation is refinancing all your federal figuratively speaking into one loan via a lender that is private. This new loan will have a fresh rate of interest, re re payment terms, and monthly premiums. The next 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).

It’s also possible to have the ability to combine your loans that are institutional please contact our workplace for a summary of loan providers that offer this solution. The re payment regards to a consolidation loan will make payment of one’s student education loans less difficult economically and far less confusing as you won’t have to steadfastly keep up with a few lenders that are different. Nonetheless, a number of the advantages obtainable in the initial education loan might be lost after consolidation. Discuss your alternatives completely along with your loan provider.

To try to get a consolidation loan, speak to your Stafford loan provider. You have to additionally allow it to be a true aim to share with your loan provider regarding the Perkins loan.

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

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

Credit Agencies

All loan task is reported month-to-month to three nationwide credit agencies, down the page. To prevent getting your loan reported as past-due plus in standard towards the credit reporting agencies, be sure to make your re payments because of the to begin every month.