As education loan debtor, you have got specific liberties and obligations related to your loan.


As education loan debtor, you have got specific liberties and obligations related to your loan.

Student Rights and Obligations

The main purpose of these pages would be to offer up-to-date informative data on borrowers’ liberties, duties, and re payment choices designed for each kind of education loan available.

Your Liberties as a Borrower:

  • You will be entitled to get exit guidance to assist you comprehend your payment responsibility. Your loan continues to be due with no exit guidance.
  • You may be eligible to a payment routine.
  • The right is had by you to prepay with no penalty.

Your Responsibilities as a Borrower:

  • You need to offer details about alterations in your present title, target, and statuses of one’s college once you graduate or fall below half-time.
  • You need 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 need to continue steadily to make regular repayments until your demand happens to be provided.

Education Loan Services Web-based Forms

Extra Types

Loan Repayment Terms

  • Payment of your loan starts once the elegance duration ends.
  • Loan re payments are due from the day that is first of thirty days.
  • Payment per month quantity hinges on the total amount lent.
  • The payment duration might perhaps perhaps not meet or exceed 10 years.
  • The University of Oklahoma delivers monthly statements to loan borrowers. The statements originate from a 3rd party merchant, Heartland. Non-receipt of statements isn’t a defense that is valid nonpayment. It will be the obligation regarding the debtor to pay for the bill.

To examine your loan information head to: Heartland. All month-to-month loan statements can come from ECSI, OU’s third-party vendor. 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  • Withdrawn from your own banking account in addition every month
  • Payment posted to your loan straight away

Call us for all about beginning the autopay service at (405) 325-5876. Enable 10 days for OU to get your kinds for processing. A contact acknowledgement is delivered to allow that EFT is known by you solution was put up for you personally.

Face-to-face Checks or Cash Instructions

  • Checks and Money purchases are accepted by mail and through the Payment Drop Box found in the first flooring lobby of Buchanan Hall.
  • Make checks and cash purchases payable to: University of Oklahoma.
  • Create the title regarding the debtor in the check because it is on OU records.
  • Once you understand your Sooner ID quantity, compose that on your check aswell.
  • Produce re re payment within the phone with your bank checking account.
  • You will require your bank’s routing quantity as well as your account that is checking quantity.
  • Checks returned for inadequate funds (NSF) are examined a $25 solution charge.
  • United states Express, Discover, and Mastercard
  • Which will make a charge card re payment by phone, be sure to call 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 charge card information. So that you can process business that is daily we close our credit card device at 3 p.m. CST.

Kinds of Loans

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

Perkins loan is just a federally mandated loan with a present interest of five per cent. The mortgage is susceptible to the following conditions:

CANCELLATIONS: you might make an application for cancellations, if you are utilized in specific sectors of this workforce that offer solutions into the community. Please contact our workplace to get detailed information about your occupation.

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

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

SPOTLIGHTS: 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 30, 2006 contain detailed information about these deferments june. Whenever you finalized a promissory note prior to then, the info is summarized below.

Effective July 1, 2006, a brand new deferment that is military produced, effective for Perkins loans which is why the very first disbursement ended up being made on or after July 1, 2001. At the time of July 1, 2006, a professional debtor may be given a deferment for an interval by which she or he came across the skills after July 1, 2001. The deferment shall perhaps maybe not meet or exceed a complete of 3 years and is applicable simply to durations during which borrowers are serving on active responsibility throughout a war or any other armed forces operations, or nationwide crisis, or doing qualifying National Guard duty within a war or any other army procedure or emergency that is national.

Perkins Loan Consolidation

Consolidation is refinancing your entire federal figuratively speaking into one loan via a personal loan provider. This brand new loan will have a brand new rate of interest, re re re payment terms, and monthly obligations. The following federal figuratively speaking 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 manage to combine your Institutional Loans, please contact our workplace for a summary of loan providers that offer this solution. The re re payment regards to a consolidation loan will make payment of one’s student education loans much easier financially and far less confusing because you won’t have to maintain with a few lenders that are different. Nevertheless, a number of the advantages obtainable in the initial education loan might be lost after consolidation. Discuss your choices completely along with your loan provider.

To use for a consolidation loan, speak to your Stafford loan provider. You need to additionally make it aim to inform your lender regarding the Perkins loan.

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

You might defer your loans if you’re nevertheless attending school at minimum half-time. For more info regarding your loan, please contact our workplace.

Credit Agencies

All loan task is reported month-to-month to 3 credit that is national, given just below. In order to prevent getting your loan reported as past-due as well as in default towards the credit bureaus, be sure to make your re re payments by the to begin each month.


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