Q.
How often are payments due?
A. For most loans, payments are due on a quarter
(4 times a year) basis. A borrower can request in writing that payments be
made on a monthly basis if they wish.
Q.
I haven’t graduated, so why am I being billed?
A. When a borrower leaves school for whatever
reason, or falls below half time status, the loan is entered into
repayment. If you have returned to school, you must file an in-school
deferment form with us at least once a year until you graduate.
Q.
I transferred to another school, why am I being billed?
A. If you are at least a half time student at an
accredited institution of higher learning, you are required to file
deferment forms on at least a yearly basis. If your current institution
verifies enrollment on a semester by semester basis, you will need to file
an in-school deferment form with us each and every semester until you
graduate.
Q.
I returned to the University of Massachusetts, why am I still being billed?
A. Unfortunately, there is no connection between
the registrar’s files and our billing service. We have no way of knowing
you have returned/are returning to the University. You will be required to
file an in-school deferment form with us each semester that you are
registered as a student (at least half time).
Q.
What do I do if I cannot make my regularly scheduled installment?
A. Anytime you encounter temporary financial
difficulties, you can contact us in writing or by telephone and we can
explain which options are available to you. You can also check out this web
site for information on forbearance or deferments options.
Q.
To whom do I make my check payable?
A. The University of Massachusetts. Please be
sure to include your complete student account number on your check for
accurate and timely processing.