Student Loans

Institutional Loan Information


Institutional Loans are various long-term loans. The University's Financial Aid Department awards these loans to help undergraduate and graduate students pay for educational costs. There are approximately 35 different loan funds available for disbursement. Many donors contribute monies to these various funds, and when the borrower repays the loan, the money is directed back to the fund from which it was disbursed. The monies are then redistributed to current students as new Institutional Loans. Each loan fund has different criteria for qualification. If you are interested in obtaining an Institutional Loan, please contact the Financial Aid Department for qualification requirements. Once you have been awarded an institutional loan, you must come to Room 202, Mary Martin Hall to sign your institutional promissory note. At this time, you cannot electronically sign your institutional loan, only your Federal Perkins loan or Health Professions Loan.

Interest Rate
The annual interest rate on the unpaid balance of long term institutional loans varies from 3% to 7%. The interest rate is stated on the borrower's promissory note, disclosures, repayment schedule, and Statement of Rights and Responsibilities provided to the student at the time the loan is awarded and during the Exit Interview.

Grace Period
The term "grace period" refers to the period of time before the borrower must begin repayment of a student loan. Grace periods begin when a student ceases to be enrolled at least half-time, withdraws, or graduates from the University. Grace periods vary from 1 month to 12 months depending on the loan fund. During a grace period, no interest accrues and payments are not required. Please refer to your promissory note for details.

Loan Repayment
Repayment of a long term institutional loan begins when a grace period ends (if a grace period is applicable). At the time a borrower drops below half-time enrollment or leaves Auburn University, the University must conduct an exit interview. During the interview pertinent information and a repayment schedule are provided to the borrower. Please read our Exit Interview section for more detailed information. Loan payments are due on the first of each month. Monthly payment amount depends on the amount borrowed. The repayment period varies for each loan fund, but the majority do not exceed 10 years.

Monthly statements are sent 20 days prior to the due date to loan borrowers. However, payment of your debt is not contingent upon receipt of a statement. If you do not receive a statement, you should mail your payment to the following address. Please include your ID number on the check to insure that it is posted properly to your account. You may also pay your payment on line at

Heartland ECSI (formerly Campus Partners)
3330 Healy Drive, Suite 105
Winston-Salem, NC 27103
Telephone: 800-334-8609
Website to e-sign prom notes:


Student Financial Services
Mary Martin Hall      Auburn University, AL 36849      Phone: 334-844-4634      Fax 334-844-3757

Auburn University | Auburn, Alabama 36849 | (334) 844-4000
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