These are your rights and responsibilities as a borrower under the Federal Perkins Loan Program.
TABLE OF CONTENTS
The Perkins Loan Program (formerly National Direct Student Loan) was established to
assist students in financing their postsecondary education. At The University of New
Orleans, this program has played a significant role by providing a financial source
for numerous students to pursue their education ambitions.
A Federal Perkins Loan is a fixed low interest loan (5%) for both undergraduate and
graduate students with exceptional financial need. The amount of the Federal Perkins
Loan awarded is determined by UNO's Financial Aid Office. The loan is a campus-based loan program, with the school acting as the lender using
a limited pool of funds provided by the federal government.
SERVICING YOUR PERKINS LOAN - UAS
UNO has contracted with University Accounting Service (UAS) to conduct your Federal Perkins Loan entrance and exit interviews. UAS also administers
your loan after you leave school or your enrollment drops below half time status.
While the University will still maintain your Perkins Loan, UAS will be responsible
for sending your billing statements, receiving and processing your payments, reviewing
and processing deferment and cancellation forms, and addressing all of your other
customer service needs.
UAS offers 24-hour access to loan account information. You can obtain your account
information by calling 800-999-6227. Please have your account number or your social security number available.
Payments, forms, and correspondence should be mailed to:
University Accounting Service (UAS), L.L.C.
PO Box 5291
Carol Stream, IL 60197-5291
Please make all checks payable to UNO and include the remittance portion of your billing
statement. If you do not have the remittance portion, write your account number on
If you prefer to make payments electronically, visit UAS's electronic payment site
ACCEPTING LOAN - WEBSTAR AND ENTRANCE COUNSELING
Before receiving a Federal Perkins Loan, borrowers must accept their loan on Webstar.
Students will be notified by UNO’s financial aid office when they can accept their
Once the loan is accepted on Webstar, an entrance counseling session must be completed.
The counseling is conducted electronically on www.SignMyLoan.com and will provide basic facts about your Federal Perkins Loan. All borrowers will
be sent anemail notification to their UNO account once the entrance counseling session
is available on SignMyLoan.com. Below are topics discussed during the counseling session.
- Loan terms and conditions
- Rights and responsibilities of the borrower
- Use of the Master Promissory Note (MPN)
- Repayment and consolidation plans
- Deferment, forbearance, and cancellation options
- Late payment and default consequences
- Budgeting money
- Borrower’s responsibilities while they are in school
- Importance of keeping lender(s) informed
THE EXIT INTERVIEW
Regardless of your reason for leaving the UNO, as a recipient of a Federal Perkins
Loan, you are required to complete an exit interview. The interview is completed online
at www.uasexit.com. You will be sent an email notification to your UNO account when the interview is
ready to be completed.
During the exit interview, your rights and responsibilities as a borrower are disclosed
along with your repayment schedule, terms of payment, billing procedures, interest
charges, etc. In addition, you will be presented with a summary of all the Perkins
Loans you have received from UNO (including the amount and date on which your first
payment will be due).
Exit interview attendance is essential in that during the session you will have an
opportunity to ask questions about your loan(s), your eligibility for deferment or
cancellation benefits, and your obligation to pay back your loan now that you are
no longer in school. Although the above areas are discussed on our website, there
may be special conditions that apply to you which require further clarification.
The exit interview also provides UNO with an opportunity to update the information
on your account. This includes your name and address as well as information regarding
your future plans which may affect your repayment terms.
YOUR RIGHTS AND RESPONSIBILITIES
Borrower's Rights: The University of New Orleans must inform you of the following:
- Where to send payments and write for answers to questions: University Accounting Services (UAS) LLC; P.O. Box 529; Carol Stream, IL 60197 - 5291.
- What your total debt (principal and interest) will be and the interest rate.
- Your first due date and the number, frequency, and amount of all payments.
- Your right to be granted a deferment in accordance with your promissory note, if you
have supplied the appropriate documentation.
- Your option to repay your loan early without penalty.
- Your consolidation options.
- What fees, penalties, and charges you could incur for late payments and defaulting
on your loan.
- Your grace period and loan cancellation possibilities.
- The university must also provide a copy of your promissory note(s).
Borrower's Responsibilities: The borrower is required to do the following without exception:
- Notify UAS of any change in your address, name, or social security number.
- Pay your loan according to the repayment schedule.
- Provide the proper forms, entirely completed, for any deferment or cancellation request.
- Notify UAS of any change in deferment, enrollment, graduate, or cancellation status.
- To attend an exit interview and update your information with the Office of the Bursar
or UAS before you leave the university regardless of your reason for leaving.
PAYMENTS, GRACE PERIOD, AND BILLING PROCEDURES
Repayment is important to your future as well as that of future UNO Students. By signing
a promissory note for your Federal Perkins Loan, you agreed to repay your loan upon
leaving school. Your repayment makes it possible for other students to benefit from
this financial resource because the funding of the Federal Perkins Loan program depends
on the repayment of past borrowers.
Repaying the loan establishes a credit reference which may be beneficial in obtaining
credit from other sources. Failure to repay your Perkins Loan may seriously impair
your future borrowing ability.
Payment Options: Borrowers may choose to submit payment in the following manner:
- Electronic at www.uasecho.com
- Phone payment at 504-280-6506
- Mail payment to the following address: University Accounting Service; P.O. Box 5291;
Carol Stream, IL 60197-5291
When mailing a payment, please include the remittance portion of the billing statement.
If the borrower does not have the remittance portion, please write the loan number
in the Memo section.
Grace Period: Once you leave school or are registered as less than half-time (minimum of 6 hours
for an undergraduate and 5 hours for a graduate), you are entitled to a nine month
grace period. During this time, a payment is not required and interest does not accrue.
During your grace period you will receive notices updating you on your loan along
with another copy of your repayment schedule. These notices will be titled "grace
period notice" or "statement of account" and should not be confused with an actual
Those who are granted a deferment will receive an updated repayment schedule 90 days
into the grace period.
Billing: Billing cycles are set up on a monthly basis, and bills are mailed by UAS. Borrowers are reminded they are still responsible for payments due even if a bill is not received. It is the borrower’s responsibility to ensure their address is correct. To update
an address, please contact UAS.
Payments are due on the first of the month. If a payment is not received within 15 days of the due date, an overdue notice will
be sent and late fees are assessed.
Paying ahead or making prepayments is allowed without penalty but does not necessarily
replace your obligation to make a scheduled payment. A borrower is not allowed to
double up one quarter and skip the next quarter without first notifying UAS.
DEFERMENT OF PAYMENT
A deferment is a temporary suspension of payment. All deferments require the borrower
to complete the appropriate form in a timely manner. All deferment forms can be found
on UAS's website at the following link: https://www.uaservice.com/Borrower-Student/Benefit_Forms.html. Please contact UAS if you have any questions about completing a deferment form.
Below are the different types of deferments a borrower may qualify for along with
a brief description:
|Deferment Types, 07/01/93 - Current
||Deferment Maximum Time Period
|In-School Half-time or Greater Student
|Seeking Full Employment
|Internship or Residency
|Military Service Post Demobilization
|Active Duty Student
A borrower may defer repayment of a Perkins Loan if he or she is enrolled at least
half-time in an eligible school. Interest does not accrue during an in-school deferment.
A Deferment Form must be completed and submitted to UAS to qualify for the in-school deferment.
A borrower may defer repayment if he or she is enrolled and in attendance as a regular
student in a course of study that is part of a graduate fellowship program approved
by the department, including graduate or postgraduate fellowship - supported study
(such as a Fulbright Grant) outside the United States.
To receive deferment for enrollment in a graduate fellowship program, the borrower
must provide certification that he or she is engaged in full-time study in an approved
graduate fellowship program (or has been accepted by the program) and complete a Deferment Form.
Forbearance is a temporary postponement of payments. Unlike a deferment, interest continues to accrue during the forbearance,and the accrued interest is due when the forbearance expires.
Schools may grant a forbearance to borrowers who are experiencing financial hardship,
poor health, or for other acceptable reasons. For example, the department strongly
encourages schools to grant periods of forbearance to borrowers who are serving in
AmeriCorps. Also, the department may authorize periods of forbearance due to national
military mobilization or other national emergency.
To be granted a forbearance, a Financial Arrangement Form must be completed and submitted to UAS, and both the borrower and the school must
agree upon the terms of the forbearance.
Schools may grant the borrower forbearance for a period of up to one year at a time.
The forbearance may be renewed, but the periods of forbearance collectively may not
exceed a total of three years. A school may apply an authorized period of forbearance
to begin retroactively (that is, to begin on an earlier date than the date of the
borrower’s request) if the borrower requests that the school do so and if he or she
provides adequate documentation to support the request.
A borrower is entitled to an economic hardship deferment for periods of up to one
year at a time, not to exceed three years cumulatively, if the borrower provides the
school with satisfactory documentation showing that he or she is within any of the
Has been granted an economic hardship deferment for either a Stafford or PLUS Loan
for the same period of time for which the Perkins Loan deferment has been requested.
Receiving federal or state public assistance, such as Temporary Assistance to Needy
Families (formerly, Aid to Families with Dependent Children), Supplemental Security
Income, Food Stamps, or state general public assistance.
Working full time and is earning a total monthly gross income that does not exceed
150 percent of the poverty line for the borrower’s family size.
Not receiving total monthly gross income that is more than twice the amount in (#3)
above and that income minus an amount equal to the borrower’s monthly payments on
federal postsecondary education loans does not exceed the amount specified in (#3)
Working full time and has a federal educational debt burden that is 20% or more of
the borrower’s total monthly gross income and the borrower’s total monthly gross income
minus such burden is less than 220% of the amount specified in (#3) above.
Serving as a volunteer in the Peace Corps.
Interest does not accrue with an Economic Hardship. A Financial Arrangement Form must be completed and submitted to UAS to qualify for an Economic Hardship.
Seeking Full-Time Employment
A borrower may defer repayment on a Perkins Loan for up to three years, regardless
of the disbursement date and contrary provisions on the promissory note, if the borrower
is seeking and unable to find full-time employment. A Financial Arrangement Form must be completed and submitted to UAS to qualify for this deferment.
A borrower may defer repayment if he or she is enrolled in a course of study that
is part of a department-approved rehabilitation training program for disabled individuals.
To receive this deferment, the borrower must provide UNO with certification that:
The borrower is receiving, or scheduled to receive, rehabilitation training from the
The agency is licensed, approved, certified, or otherwise recognized by a state agency
responsible for programs in vocational rehabilitation, drug abuse treatment, mental
health services, or alcohol abuse treatment; or by the Department of Veterans Affairs.
The agency provides or will provide the borrower rehabilitation services under a written
plan that (1) is individualized to meet the borrower’s needs; (2) specifies the date
that services will end; and (3) is structured in a way that requires substantial commitment
from the borrower.
A substantial commitment from the borrower is a commitment of time and effort that
would normally prevent the borrower from holding a full-time job either because of
the number of hours that must be devoted to rehabilitation or because of the nature
of the rehabilitation.
A Deferment Form must be completed and submitted to UAS to qualify for the Rehabilitation Training
A borrower who is serving in a medical internship or residency program does not qualify
to receive an in-school deferment. However, the borrower is eligible for an internship deferment for up to two years.
While the borrower is serving an eligible internship, he or she may defer repayment
for up to two years. Interest will not accrue during the internship deferment. An
eligible internship is one that requires the borrower to hold at least a bachelor’s
degree before beginning the program.
The internship must also be required by a state licensing agency as a prerequisite for certification of the individual for professional practice or
service. The borrower must provide the school certification from an official of the
appropriate state licensing agency indicating that the successful completion of the
internship is required by the state licensing agency as a prerequisite for certification
for professional practice or service. The borrower must further provide a statement
from the organization where the borrower will be an intern certifying:
- Applicants must hold a bachelor’s degree to be admitted into the internship program
- The borrower has been accepted into the internship program
- Dates when the borrower is expected to begin and complete the program
A Deferment Form must be completed and submitted to UAS to qualify for the Internship/Residency Deferment
A borrower who is serving on active duty or performing qualifying National Guard
duty in connection with a war, military operation, or national emergency does not
need to pay principal or interest on Perkins, NDSLs, and Defense Loans. A Military Deferment Form must be completed and submitted to UAS.
Military Service - Post Demobilization
The Military Service deferment period ends 180 days after the borrower’s demobilization
date for the eligible active duty or National Guard service.
Military Active Duty Student
The College Cost Reduction and Access Act (CCRAA) created a new military deferment
for borrowers enrolled in an eligible post-secondary school. Effective October 1,
2007, borrowers who are members of the National Guard, Armed Forces Reserve, and members
of the Armed Forces who are in retired status are eligible for a 13 month period of
deferment on repayment of their Perkins Loans following the completion of their active
duty military service if they were enrolled in a post-secondary school at the time
of, or within six months prior to, their activation. If the borrower re-enrolls in
post-secondary school prior to the expiration of the 13-month period, the deferment
ends on the date the student re-enrolls.
Unlike the military service deferment described above, students receiving the active
duty student deferment need not be activated during a war, national emergency, or
other military operation.
For purposes of the active duty student deferment, "active duty" has the same meaning
as in Section 101(d) (1) of Title 10, United States Code, but does not include active
duty for training or attendance at a service school/academy. Members of the National
Guard may qualify for this deferment for Title 32 full-time National Guard duty under
which a Governor is authorized, with the approval of the President or the U.S. Secretary
of Defense, to order a member to State active duty and the activities of the National
Guard are paid for by federal funds; or for State active duty under which a Governor
activates National Guard personnel based on State statute or policy, and the activities
of the National Guard are paid for by State funds. Many borrowers may also be eligible
for the military service deferment, and a student may receive both deferments if eligible.
If a student receives both, the overlapping periods of deferment will run concurrently.
Hardship - Disbursed Before July 1, 1993
Loans disbursed before July 1, 1993 are eligible for an additional type of hardship
deferment, which is separate and different from an economic hardship deferment. A
borrower may defer repayment for hardship, as determined by the school (for example,
if the borrower is facing a prolonged period of illness or unemployment). A borrower
may qualify for unlimited deferments due to hardship. Interest will continue to accrue
during the hardship deferment. Also, hardship deferments do not have post-deferment
grace periods. Please contact UAS for further details.
For a deferment exclusive to Perkins Loans made before July 1, 1993 and between October 1, 1980, and July 1, 1993, please contact UAS regarding deferment periods and types.
CANCELLATION OF LOAN
Perkins Loan borrowers may be entitled to have all or a portion of a Perkins Loan
canceled due to performance of qualifying services. Borrowers who qualify for cancellation
benefits must complete a Cancellation Form. Instructions are found at this link as well. This form must be submitted to UAS upon completion. If you have any questions in regards to canceling your loan, please
Please note the certified forms are due every year until your eligibility ends. If
you remit payments while you are eligible for loan cancellation, your payments will not be refunded. Provisions for cancellation are listed below.
Note: With the exception of cancellations for Head Start, Military (prior to 8/14/08) and
Volunteer Service, the cancellation rate per completed academic year of full-time
teaching or for each year of otherwise qualifying full-time service is 15% of the
original principal loan balance for each of the 1st and 2nd years, 20% of the original
principal loan balance for each of the 3rd and 4th years, and 30% of the original
principal loan balance for the 5th year.
Teaching in Low-Income Schools
A cancellation based on teaching in a school serving students from low-income families
may be granted only if the borrower taught in an eligible school that is listed in
the Directory of Designated Low-Income Schools for Teacher Cancellation Benefits.
The Directory is available at the following link: http://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp.
A teacher in a designated low-income elementary or secondary school who is employed
by an educational service agency may qualify for a teacher cancellation. In addition,
a teacher in a designated low-income elementary school, secondary school, or location
operated by an educational service agency may qualify for a teacher cancellation.
Teaching in Special Education
A person who provides one of the following services does not qualify as a teacher
unless (1) that person is licensed, certified, or registered by the appropriate state
education agency for that area in which he or she is providing related special educational
services and (2) the services provided by the individual are part of the educational
curriculum for handicapped children listed below:
- Speech and Language Pathology and Audiology
- Physical Therapy
- Occupational Therapy
- Psychological and Counseling Services
- Recreational Therapy
Teaching in a Field of Expertise (Shortage Area)
For a borrower to be considered as teaching in a field of expertise that has been
identified by a state education agency to have a shortage of teachers, the majority
of classes taught must be in that field of expertise. A borrower who is teaching in
science, mathematics, foreign language, or bilingual education qualifies for cancellation
even if the state has not designated the subject area in which he or she is teaching
as a shortage area.
Early Intervention Cancellation
A cancellation based on a borrower who has been employed full time as a qualified
professional provider of early intervention services in a public or other nonprofit
program under public supervision.
Law Enforcement or Corrections Officer Cancellation
This cancellation is based on a borrower who has served full time as a qualifying
law enforcement or corrections officer.
To establish the eligibility of a borrower for the law enforcement or corrections
officer cancellation provision, the school must determine that (1) the borrower’s
employing agency is eligible and that (2) the borrower’s position is essential to
the agency’s primary mission.
A local, state, or federal agency is an eligible employing agency if it is publicly
funded and its activities pertain to crime prevention, control, or reduction or to
the enforcement of the criminal law. Such activities include, but are not limited
to, police efforts to prevent, control, or reduce crime or to apprehend criminals;
activities of courts and related agencies having criminal jurisdiction; activities
of corrections, probation, or parole authorities; and problems relating to the prevention,
control, or reduction of juvenile delinquency or narcotic addiction.
Agencies that are primarily responsible for enforcement of civil, regulatory, or administrative
laws are ineligible. However, in recognition of the fact that the activities of many
divisions and bureaus within local, state, and federal agencies pertain to crime prevention,
control, or reduction, or to the enforcement of criminal law, the department has determined
that a sub-unit within a larger, non-law enforcement agency may qualify as a law enforcement
agency for purposes of a law enforcement cancellation.
For the borrower’s position to be considered essential to the agency’s primary mission,
he or she must be a full-time employee of an eligible agency and a sworn law enforcement
or corrections officer or person whose principal responsibilities are unique to the
criminal justice system and are essential in the performance of the agency’s primary
The law enforcement/corrections officer cancellation is expanded to include full-time
attorneys employed in Federal Public Defender Organizations or Community Defender
Organizations, established in accordance with Section 3006A(g)(2) of Title 18, U.S.C.
Nurse or Medical Technician Cancellation
The cancellation is based on a borrower who has served full time as a nurse or medical
technician providing health care services. The borrower must provide health care services
directly to patients.
Child or Family Services Cancellation
The cancellation is based on a borrower who has served full time as an employee of
an eligible public or private nonprofit child or family service agency and has directly
and exclusively provided services to high-risk children who are from low-income communities
or has supervised the provision of such services. To receive loan cancellation for
being employed at a child or family service agency, a borrower employed in a non-supervisory
capacity must be providing services only to high-risk children who are from low-income
communities. The borrower must provide services directly and exclusively to high-risk
children from low-income communities. The borrower may also be providing services
to adults, but these adults must be members of the families of the children for whom
services are provided, and the services provided to adults must be secondary to the
services provided to the high-risk children.
The types of services a borrower may provide to qualify for a child or family service
cancellation include child care and child development services, health, mental health
and psychological services, as well as social services. The department has determined
that an elementary or secondary school system or a hospital is not an eligible employing
Head Start Cancellation
The cancellation is based on a borrower who has served full time as a staff member
in the educational part of a preschool program carried out under the Head Start Act.
A full-time staff member is someone who is regularly employed in a full-time professional
capacity to carry out the educational part of a Head Start Program. The program must
operate for a full academic year, or its equivalence, and the borrower’s salary may
not be more than that of a comparable employee working in the local educational agency.
An authorized official of the Head Start Program must sign the borrower’s cancellation
form to certify the borrower’s service. The cancellation rate is 15% of the original
principal loan amount—plus the interest that accrued during the year—for each complete
The Head Start cancellation is expanded to include full-time staff members in a pre-kindergarten
or childcare program that is licensed or regulated by the State.
Military Service Cancellation
The cancellation is based on a borrower who has served a period of full-time active
duty in the armed forces (that is, the U.S. Army, Navy, Air Force, Marine Corps, or
Coast Guard), the National Guard, or the Reserves. The service must be in an area
of hostilities or an area of imminent danger that qualifies for special pay under
Section 310 of Title 37 of the U.S. Code. The cancellation rate for every complete
year of qualifying service is 12.5% of the original principal loan amount plus any
interest that accrued during the year.
Borrowers may receive military service cancellation of up to 100 percent of the loan
in increments of 15 percent (for the first and second years of service); 20 percent
(for the third and fourth years of service); and 30 percent (for the fifth year of
NOTE - U.S. ARMY LOAN REPAYMENT PROGRAM: The U.S. Army offers a loan repayment program
as an enlistment incentive. If a Perkins Loan (or Stafford Loan) borrower serves as
an enlisted person in the U.S. Army, in the Army Reserves, or in the Army National
Guard, the U.S. Department of Defense will repay a portion of the loan. For more information,
the student should contact his or her local military recruiting office. This is a
recruitment program, not a cancellation, and does not pertain to an individual’s prior
Volunteer Service Cancellation
The cancellation is based on a borrower who has served as a Peace Corps or AmeriCorps*VISTA
(under Title I, Part A of the Domestic Volunteer Service Act of 1973) volunteer. An
authorized official of the Peace Corps or AmeriCorps*VISTA program must sign the borrower’s
cancellation form to certify the borrower’s service. AmeriCorps volunteers do not
qualify for this cancellation unless their volunteer service is with AmeriCorps*VISTA.
An AmeriCorps*VISTA volunteer may only qualify for this cancellation if the AmeriCorps*VISTA
volunteer elects not to receive a national service education award for his or her
volunteer service. The AmeriCorps*VISTA volunteer must provide appropriate documentation
showing that the volunteer has declined the AmeriCorps national service education
award. Schools apply cancellation for volunteer service in the following increments:
Note: Eligible service performed on or after August 14, 2008 and regardless of whether
the cancellation category appears on the borrower’s promissory note. The cancellation
rate for each year of qualifying full-time service is 15% of the original principal
loan balance for each of the 1st and 2nd years, 20% of the original principal loan
balance for each of the 3rd and 4th years, and 30% of the original principal loan
balance for the 5th year.
Full Time Fire Fighters
The cancellation is based on a borrower who has served as a full time fire fighter
with a Local, State or Federal fire department or fire district.
TribalCollege of University Faculty Service
The cancellation is based on a borrower who has served as a full-time faculty member
at a Tribal College or University.
The cancellation is based on a borrower who has served as a full time librarian with
a masters degree in library science and who is employed in an elementary or secondary
school that qualifies for Title I funding, or in a public library that serves a geographic
area that includes one or more Title I schools.
Speech-Language Pathology Service
The cancellation is based on a borrower who is a full-time speech language pathologist
with a master’s degree working exclusively with Title I eligible schools.
Discharge for Death
A cancellation of the remaining balance of any Perkins Loan if the borrower dies.
Documentation of death of the borrower includes an original or certified copy of the
death certificate, or an accurate and complete photocopy of the death certificate.
Discharge for Permanent Disability
A cancellation of the remaining balance of any Perkins Loan if the borrower becomes
totally and permanently disabled. Total and permanent disability is the inability
to work and earn money because of an injury or illness that is expected to continue
indefinitely or to result in death.
Effective date: July 1, 2008, subject to regulations, except for disability discharge
requests based on Department of Veterans Affairs’ determinations.
The HEOA provides for a discharge of a borrower’s Perkins Loan if the borrower is
unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment that:
- Can be expected to result in death
- Has lasted for a continuous period of not less than 60 months
- Can be expected to last for a continuous period of not less than 60 months
In addition, a borrower who is determined by the VA to be unemployable due to a service-connected
disability also qualifies for a discharge on his or her Perkins Loan. The department
will issue additional guidance to Perkins Loan holders describing the procedures for
discharging these loans after working with the VA to identify the appropriate documentation
to support a borrower’s eligibility for the discharge.
Discharge for spouses of September 11, 2001 victims
A discharge of the outstanding balance of a Perkins Loan made to the spouse of an
eligible public servant. An eligible public servant is a police officer, firefighter,
or other safety or rescue personnel, or a member of the Armed Forces, who died or
became permanently and totally disabled due to injuries suffered in the September
11, 2001 terrorist attacks. The discharge pertains to loan amounts that were owed
on September 11, 2001. There is no refunding of any payments made on a loan prior
to the loan discharge date.
You may also consider consolidating your Perkins Loan through the U.S. Department
of Education's Direct Consolidation Loans program. Direct Loans allow borrowers to
combine one or more federal education loans into a new loan . With only one lender
and one monthly bill, it is easier for borrowers to manage their debt. To find out
more about consolidating your Federal Loans, call 800-557-7392 or visit their website
Borrowers may view their Title IV loan information on the National Student Loan Data
System at http://www.nslds.ed.gov/nslds_SA/.
CREDIT, DEFAULT, AND COLLECTION AGENCIES
When it is time to begin repayment, your loan will provide you with an excellent credit
reference, provided you meet your responsibilities. In order to process a credit reference, we will need your written authorization. Most companies seeking reference checks have forms you can sign and forward to us
Those who choose to ignore their obligation and fail to remit timely payments will
find the following actions taken:
- Universityof New Orleansservices withheld: All future services including transcripts, diplomas, and financial aid will be denied.
- Transfer to First Placement Collection Agency: All delinquent loans, by state law, will be referred to a collection agency where
collection costs of up to 24% will be added to the amount due. The loan will be accelerated
making the entire amount of the loan due and future deferments may be denied. UNO's
first placement collections agency is Todd, Bremer & Lawson, Inc. (TB&L). An account is sent to TB&L once it is nine months delinquent. If you need to contact
TB&L, their number is (800) 849-6669, and their website is www.TBandL.com. UNO's contract with TB&L states the collection cost rate is set at 20%.
- Transfer to Second Placement Collection Agency: If TB&L is unable to collect the past due balance on an account within one year,
the loan is placed with UNO's second placement agency, General Revenue Corporation (GRC). If you need to contact GRC, their number is (800) 234-6258 and their website is www.generalrevenue.com. UNO's contract with GRC states the collection cost rate is set at 20%
- Assignment to the U.S. Department of Education: If GRC cannot collect the past due balance within one year, the loan will be assigned
to the Federal Government who will pursue collection action indefinitely. The U.S.
Department of Education will also withhold Federal Tax refunds and prevent federal
employment for many with defaulted loans.
Credit Bureau Report: All current and delinquent loans are reported by UAS to all three national credit bureaus.
The single best thing a borrower can do is to keep the lines of communication open.
A Perkins Loan is an important responsibility and must be treated that way.
If you become past due on your Federal Perkins Loan and are unable to pay the balance
owed on your account, you may qualify for a Loan Rehabilitation. A rehabilitation
allows you to make nine consecutive monthly payments. Once you have made the nine
required payments, you will go back into regular repayment status and your loan will
continue to be serviced until the balance owed is paid in full.
The benefits of a rehab are listed below:
- Your loan will no longer be considered to be in a default status.
- The default status reported to the national credit bureaus will be deleted.
Please note a rehab can only be completed once during the life of the loan. Borrowers who are interested in a rehab can contact
UNO’s Federal Perkins Loan department to receive additional information.
If you have any questions in regards to your Perkins Loan, please contact UNO's Perkins
Loan Department by calling (504) 280-6506. Please feel free to visit us in person
as well. The Perkins Loan Department is located in the Administration Building, Room
1006. Our office hours are Monday through Friday - 8:00am until 4:30pm. All mail correspondence
can be sent to the following address:
Accounts Receivable - Perkins Loan Department
University of New Orleans
2000 Lakeshore Drive
New Orleans, LA 70148
Borrowers requiring additional assistance with Student Aid issues may contact the
Federal Student Aid Ombudsman at (877) 557-2575 or online at http://www.ombudsman.ed.gov/.
NAME CHANGE OR OTHER IDENTIFICATION CHANGES
In most cases, name and identification changes are managed by the Office of the Registrar for
the University of New Orleans for all past and present students. You will need to
bring your new signed social security card with the name change to initiate this request.
If you are a current or former UNO employee, please visit Human Resources Management in
Administration Building room 213.