Student Loans and Scholarships

Repayment Information

Your student loan(s) are serious obligations that must be repaid in a timely manner. Our mission is to support you during the repayment of your Federal Perkins, Primary Care and/or University Student Loan(s). Inability to pay is no excuse for defaulting. With the timely use of various loan provisions, assistance can be provided until you regain the ability to repay your obligation on a timely basis.

The first step is to become knowledgeable about your student loan(s) and the provisions that are available. Prior to leaving Penn State, you are required to complete an Exit Interview. The Exit Interview provides you with information that will make the repayment of your loan(s) easier with fewer surprises. It is essential to complete and review your exit information prior to entering repayment on your loan(s).

There are a variety of "tools" available to assist you in the repayment of your loans:

• Student loans have various deferment/cancellation provisions.
• Your student loan(s) may be eligible for consolidation.
  All of your student loans could be combined into one convenient payment that is often lower than the sum of your individual payments.
• If you can afford your student loan payment, but do not want the worry and hassle of sending scheduled payments, your payments can be automatically deducted from your bank account via our automated payment system PSU Autopay.
• If you cannot find a solution that meets your needs, please contact us for assistance.

Even though Federal Perkins, Primary Care and University Student Loans have many "tools" to stay up-to-date, it is ultimately your responsibility to take the initiative and apply. Many negative things can occur if your student loan(s) enter default. Several of these consequences of defaulting are irreversible.

If you need assistance in understanding your options or have questions concerning your Federal Perkins and /or University Student Loans, please contact us.

If we are unable to answer your questions or resolve your issues concerning your Federal Perkins Student Loan, the Department of Education's Ombudsman is available to respond to your concerns.

This information is available in alternative format upon request