Welcome: How The Online Counseling Session Works

Types of Loans You May Have

Step One: Understanding Your Responsibilities

Step Two: Preparing to Pay Back Your Student Loans

Step Three: Payment Plans and Billing Procedures

Step Four: Loan Deferment, Forbearance and Cancellation Benefits

Step Five: Loan Consolidation May Be Helpful

Step Six: Avoiding Delinquency and Default

Step Seven: Budgeting and Managing for a Successful Future

Step Eight: The Importance of Staying in Touch

Step Three: Payment Plans and Billing Procedures

Campus Partners is a billing servicer that handles billing and bookkeeping functions for student loans billed by the University of Washington. Billing statements, coupon books and other notices about your loan account will come from Campus Partners. If you have questions or need assistance, contact the UW Student Fiscal Services Office directly by email or telephone.

Campus Partners provides a number of electronic services including:

• paying your loan online
• arranging for automatic direct draft payments
• viewing and monitoring your loan account
• downloading forms

You may also access your account information by telephone on the Campus Partners Interactive Voice Response system. To access the service, call 1-800-334-8609 from any touchtone telephone.

Billing Methods

There are several billing options available, depending on your loan type and preferences:

Statement Billing - If you have a loan from the Federal Health Profession and Nursing Loan program, you will receive a billing statement approximately three weeks prior to each installment due date. Health Profession and Nursing Loans are not eligible for coupon billing.

Coupon Billing - If you have a Perkins or an Institutional Loan, you will receive a statement for your first installment due, and a coupon book about 20 days before the due date of your second installment. As each coupon book expires, a new one will be sent automatically from Campus Partners. Coupon books are not available for loans with less than four installments remaining, or for loans in a past due or special billing status.

Automatic Direct Draft (ADD) - This is a safe and convenient option for automatically making your loan payments electronically from your bank account on each installment due date. The ADD option is the easiest way to save both time and money by eliminating postage and check-writing costs, and can be used with all long-term loan accounts. With ADD, your payments are always made on time, avoiding possible late charges and helping you build a good credit rating. ADD payment transactions will appear as a debit on your bank statement. This service is only available with financial institutions in the U.S. An application will be included with your first billing statement, or you can download it.

Annual Statements - Regardless of the billing method for regular installments, you'll also receive an annual statement in the mail (approximately the 3rd week of January).

Billing Cycles, Installment Due Dates and Interest Charges

All installment payments are due on the 15th of every third month. Monthly billing plans are available upon request, with installment payments due on the 15th of each month. However, if you enroll in the Automatic Direct Debit option, you may select any date during the month that your installment is due to make your payment electronically.

Interest charges are calculated on the outstanding principal balance, and accrue daily. As your principal balance gets smaller, so do your interest charges. This means that if you pay earlier, you will be charged less interest - and if you pay late, you will be charged more interest.

1. Outstanding collection costs (if any)
2. Outstanding late fees (if any)
3. Accrued interest as of the date the payment is received
4. Outstanding principal

Prepayments - "Advance" vs. "Accelerated" Payments

1. Advance Payments - This is a payment made early, but intended to cover a future installment. For example, if you are planning a vacation and want to pay an installment that will come due while you are gone, you can make an advance payment to cover that installment before it is billed or due. To do this, be sure to attach a note or letter to your check identifying it as an advance payment to be applied to a future installment. Please note that you cannot make partial payments against future installments due - an advance payment must be made for the full installment amount.
2. Accelerated Payments - This is a payment of any amount that you wish to pay in addition to your regular installment amount. By doing this, you will pay off your loan faster and reduce your total interest costs. Even small accelerated payments can significantly reduce the overall cost of your loan. For example, a $5,000 loan at 5% interest requires a quarterly payment of $159.61 over forty quarters (10 years). By increasing that payment by just $20 to $180 per quarter (or $60 per month) will save $204 in interest charges, and repay the loan in just 35 quarters!

Where to Make Payments

Your billing statement or coupon book will include a remittance envelope or mailing label. Make your checks payable to 'University of Washington', and mail your installment payments to the billing servicer:
Campus Partners
PO Box 970004
Boston, MA 02297-0004

Or make your payments electronically from the Campus Partners website:
www.mycampusloan.com

Where to Send Forms or Correspondence

Send all forms to:
Campus Partners
2400 Reynolds Rd.
Winston-Salem, NC 27106

Be sure to include your loan number (from your billing statement) or social security number on all correspondence and forms to help us respond to them quickly and accurately.

If you have questions or need assistance, contact Student Fiscal Services at sfshelp@u.washington.edu, or (206) 543-4694

Family Educational Rights and Privacy Act of 1974

The University of Washington will not release your loan information to a third party (unless prescribed by law) without your consent. This includes giving information to close relatives, such as your spouse or parent. If you want to allow someone else access to your loan information, you may authorize online access to your tuition account information for two additional people (for example, parents) by logging on to MyUW Tuition Statement and using the online Information Release Authorization available as a link on the online tuition statement.

Please Remember!

• Make payments on or before the installment due date to avoid late charges, minimize interest charges and to protect your credit rating
• Make a calendar note of your installment due dates, and include them in your budget plan
• Make checks payable to the 'University of Washington'
• Your cancelled check (or bank account statement, for electronic payments) will serve as your receipt
• Keep your name, address and telephone number current on your loan account
• Contact the UW Student Fiscal Services Office if you have any questions or problems