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Perkins Loan Repayment


Perkins Loan RepaymentExit Counseling
You need to do this when you graduate or withdraw from College of Saint Mary by logging on to
MappingYourFuture.org. If you have any questions, please call the CSM Bursar at (402) 399-2650 or (800) 926-5534 x2650. Failure to comply may result to a "Hold" on your student account. The "Hold" will prevent you from viewing your grades, obtain transcripts or diplomas, or participate in graduation. 

Grace Period
 This is the period of time before you begin or resume repaying a loan.
 · Initial grace period - 9 months from the date you cease to be enrolled at least as a half-time student. 
 · Post-deferment grace period - 6 months after each eligible deferment for which you submit properly certified forms. 

Interest Rate
Fixed rate of 5% 

Minimum Monthly Payment
$40.00 or more if this amount is not sufficient to repay the loan over a ten-year period. I understand that I need to forward all my payments to Campus Partners, being the college-servicing agent for billing functions of my Perkins loan. 

Accelerated Payments
You may pay future installments without penalty; however, these accelerated payments will not apply to future installments unless you do the following: 
1)  Attach a written request to your payment; 
2)  Send an amount sufficient to cover all amounts due plus the complete amount for future installments you want to pay.  

Note: Late charges and collection fees that become due might preclude accelerated payments from covering the installments you intend to pay. Payments in excess of the amount due that do not cover complete future installments will be applied to the loan principal balance, thus reducing any future interest that will accrue. 

Deferment of Payments
You may request to defer the repayment of your loan/s and to interrupt your repayment period. To apply for a deferment of payments you must complete a deferment request form and submit this form to College of Saint Mary or to Campus Partners. To access and print the form, please visit
MyCampusLoan.com and click 'Downloadable Forms.' You should complete and mail this form immediately upon receipt of the first bill after you are eligible to request deferment of payments. If you are unable to make your loan payments and if you are not eligible for any kind of deferment, call the Bursar (402) 399-2650. 

Partial Loan Cancellation Benefits
You are eligible to apply for partial cancellation of loan principal and accrued interest on your Federal Perkins loan/s if you meet one of the eligibility criteria. Please visit
MyCampusLoan.com for more information.   

Loan Rehabilitation Program
Under this program you have the opportunity to request the rehabilitation of a defaulted loan. Rehabilitation means that, after making 12 on-time, consecutive monthly payments of an amount agreed to you by College of Saint Mary, your loan will be returned to regular payment status, the default will be removed from your credit history, and you will again be eligible to borrow Title IV federal funds.  

Forms are available online at
MyCampusLoan.com


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7000 Mercy Road   •   Omaha, Nebraska 68106-2377   •   Toll Free: (800) 926-5534   •   Local: (402) 399-2400