|BUSINESS OFFICE||STUDENT FINANCIAL SERVICES||FINANCIAL AID||STAFF||PAYMENTS FAQ||FORMS|
The collection unit of the Student Loan Department will place a hold on your account if it becomes delinquent. An account on hold prohibits registration, graduation, granting of credit, release of transcript, grades or diploma. Please note that your loan payments are due on the first day of each month. If you fail to submit a payment on time, your account becomes delinquent. DEFAULTING IS BAD NEWS!
With very few exceptions, you are always legally required to repay your loan. Failure to do so can jeopardize your entire future. You can be forced to repay, and repayment after default is much more expensive than when you make timely payments.
Defaulting on a loan is never an acceptable alternative. WHEN YOU REPAY YOUR LOAN IN A TIMELY MANNER, YOU'LL BE ABLE TO: