Repayment Policy and FAQ
Non-payment of the amount due will result in the account being declared in default. In accordance with all pertinent federal and state regulations, defaulted accounts are subject to the following university actions:
Assessment of late fees and interest penalties
denial of future deferment/cancellation provisions
placement of holds on all university services including transcripts, diploma, and access to register for subsequent semesters
report of your account as delinquent to national credit bureaus
placement of the account with a collection agency
assessment of all collection and legal costs
denial of federal tax refunds
garnished wages
Reporting applicable loans to NSLDS as defaulted, which may effect eligibility for future student loans
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Individuals who are unable to make payments are encouraged to immediately contact the Student Service Center at 610-660-1332 to establish a mutually acceptable payment arrangement. For further information regarding defaulted student loans, review A Student Loan Borrower's Guide to Defaulted Student Loans at the Department of Education web page.
Billing and Payments
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To avoid the assessment of late charges, payments should be mailed in advance of an approaching due date. Accounts have a 30-day payment grace period from the first of the month to have a payment posted and still be considered on time.
It is important to note that the billing statement is only a reminder of a payment due and that all payments are expected by the due date regardless of whether a statement is received. If you are nearing a repayment period and have not received a statement, please contact the Student Service Center 610-660-1332 or email Pat Schultz for assistance to determine the amounts due and to verify our records of your mailing address.
Make Checks payable to:
Saint Joseph's University
All payments should be addressed to:
UAS - University Accounting Services
Payment Processing Dept.
P.O. Box 932
Brookfield, WI 53008-0932
Rights & Responsibilities
If you qualify for deferment, forbearance, or cancellation benefits as detailed in your promissory note, please request the appropriate forms by checking the box on the front of the remittance portion of your statement, or you may telephone 610-660-1332 or 1-800-628-3633.
If you are unable to make a scheduled payment for any reason, it is your responsibility to contact the Student Service Center at 610-660-1332 or email Pat Schultz before the due date. If you fail to make a payment when due or do not file forms to excuse payment, the university must take further action against your account. You will be assessed a penalty/late charge. The account may be accelerated, and the entire balance will become due and payable immediately. The account will be reported delinquent to your local credit bureau. The account may be placed with a collection agency or attorney. You will be responsible for all reasonable collection costs and attorney fees.
FAQ
How do I change my address with the Student Service Center?
Email Pat Schultz your full name, social security number, new address, and telephone number.
When is my first payment due?
For Federal Perkins Loans , the grace period ends nine months after your seperation date.
For quarterly billed accounts, payment is due 3 months after the grace period ends. Most accounts are billed quarterly.
What should I do if I'm not employed when my first payment comes due?
Contact the Student Service Center. There are a number of options. For example: partial payment agreements, forbearance, or hardship deferment.
Can I prepay on this loan?
Yes. There is no prepayment penalty. You will also save interest over the life of the loan. However, payment in excess of the amount due does not prepay toward the next quarterly or monthly payment. Extra payment is applied to your loan balance.
Where is my payment coupon book?
You will receive a computer generated statement approximately 30 days prior to each due date as long as we have your current address.
Can I consolidate this loan with my other loans?
The eligible loans for consolidation are listed in the consolidation section of this site. There are a number of companies which provide this service.
Is the Stafford Loan serviced through Saint Joseph's University?
No. The Stafford Loan is serviced by your lending institution.
What types of deferments or cancellations are available on my loans?
The Deferment Information and Cancellation Benefits information can be obtained by Contacting Pat Schultz at 610-660-1332 or by emailing Pat..
How long will it take to pay off this loan?
The maximum time is ten years, however, it depends how large your loan is and what the minimum repayment is for your loan.
If my account is turned over to a collection agency or an attorney, do I have the opportunity to negotiate with Saint Joseph's University?
No. You must deal directly with the agency or attorney.