University of Delaware: The Department of Billing & Collection

Perkins and Nursing Loans

FEDERAL PERKINS/NURSING LOAN:

The Federal Perkins and Nursing Loan programs provide low-interest loans to students to help them meet their educational expense. The Federal Rules and Regulation govern these Federal loans. A student has a nine-month grace period after departure from the University. These loans are a debt that must be repaid, just like a loan for a car or a house. How you approach this obligation will have an impact on your ability to receive additional credit in the future.

Under Federal Regulation, the University is mandated to report all loans to a credit bureau. Late payment will affect your credit profile. Failure to make timely payment will result in the account going into "default". Default status makes an individual ineligible for future federal funds at any university. Once the account goes into "default" it is accelerated for the balance in full and referred to third-party collection. The borrower is responsible for any additional charges due to collection cost and legal fees.

Who to contact

Collection Services Office 30 Lovett Avenue Student Services Bldg Newark, DE 19716 collections@udel.edu (302) 831-8942

After Graduation/Separation, all correspondence goes to: University Accounting Service, LLC Mail Correspondence To: P.O. Box 932 Brookfield, WI 53151 Remit Payments To: P.O. Box 5291 Carol Stream, IL 60147 Phone: 1-800-999-6227 http://www.uaservice.com