Loan Services:
To make an online payment for Federal Perkins and other loans.
You will need your UNID and CIS Password to access the portal and complete your payment.
Please call the Help Desk if you need to reset your CIS password (801) 581-4000
Please call Student Loan Services if you have other questions (801) 581-8786
The loan orientation is the University of Utah’s program to fulfill federal requirements for borrower entrance counseling. Entrance counseling must be conducted before the release of the first loan disbursement each academic year. During entrance counseling, the borrower will be given the following information:
- An overview of possible sources of financial aid
- Terms and conditions of loan programs
- Obligations of loan repayment
- Personal financial planning
- Borrower rights and responsibilities
- Consequences of delinquency and default
- The borrower is required to provide the loan office with current information (separation dates, addresses, references, etc.). This information is not updated by the Registrars’ office.
To complete the orientation, you must:
Complete the Loan Counseling program which is available at Financial Aid and Scholarships Webpage.
There are five steps to completing the orientation. All steps must be completed in the following order:
- Select your school’s State
- Select the name of your school
- Read all of the text and answer some questions
- Fill out the student information form
- Keep a record of your confirmation page
A confirmation message that you have completed the orientation will be e-mailed to your school on the same day that you complete the session.
Provisions in the Truth in Lending Act, implemented in February 2010, have resulted in a number of changes in the process for applying for and receiving private education loans, including long-term U-loans and Health Professions Loans. Lenders who provide these loans must comply with the following requirements:
- The University must provide three separate loan disclosures to borrowers–one at the point of application, one when the loan is approved, and one before the loan is disbursed.
- A waiting period of three business days is required between the time the borrower receives the final loan disclosure and the time that the loan is disbursed.
- Students must also sign a self-certification form and submit it to the lender before the loan can be disbursed.
Federal Loan Interest Rates effective July 1st, 2022-June 30th, 2023
- Undergraduate Direct Loans: 4.99% fixed-Undergraduate subsidized & unsubsidized
- Graduate Direct Loans: 6.54% fixed-Graduate unsubsidized
- PLUS Loans (Parent/Graduate): 7.54% fixed-Federal PLUS Loan
- This form must be completed and returned with your application in order to begin the loan process.
- The Truth In Lending Act requires that the University receive this document in order to lend money.
- To complete your Self Certification Form, you will need to know your cost of attendance and estimated financial assistance. If you receive financial aid, this information can be found on your financial aid award notice located in CIS. Otherwise, please contact the Financial Aid office at (801) 581-581-6211
- This document MUST be returned to the University by mail or in-person to:
Financial Aid and Scholarship Office:
201 South 1460 East
Room 105
Salt Lake City, Utah 84112
OR
Return to the department that is disbursing the loan.
Collections:
To receive any deferment or cancellation benefit, the borrower must make a written request to Income Accounting and Student Loan Services (155 SSB), and provide the documentation required to prove eligibility. The borrower is responsible for submitting the appropriate request and supporting documentation timely, or the request may be denied. Following is a list of provisions that might be available to a Perkins loan borrower, depending on the time period when the loans are borrowed.
PLEASE READ YOUR PROMISSORY NOTES CAREFULLY FOR SPECIFIC PROVISIONS.
- Economic Hardship
- Unable To Find Full-Time Employment
- Fellowship
- Rehabilitation
- Military
- Medical Disability
- Internship/Residency
- Officer In U.S. Public Health Service
CANCELLATION:
To receive any cancellation benefit, the borrower must make a written request to Income Accounting and Student Loan Services (155 SSB), and provide documentation required to prove eligibility. The borrower is responsible for submitting the appropriate request timely, or the request may be denied. The cancellation is available only when Perkins Loan money ceases and services below will be performed full-time for a year. Following is a list of cancellations that might be available to a Perkins loan borrower, depending on the time period when the loans are borrowed.
PLEASE READ YOUR PROMISSORY NOTES CAREFULLY FOR SPECIFIC PROVISIONS.
- Teaching
- Early Intervention Services
- Law Enforcement Or Corrections Officer
- Nurse Or Medical Technician
- Child Or Family Service Agency
- Head Start
- Military Service
- Volunteer Service
- Death And Disability
Deferments for internship/residency, fellowship training, military training and other programs may be available. The individual loan program promissory note outlines the deferment benefits available in each of these loan programs.
Cancellation:
If there is a cancellation benefit, other than death or disability, it will be listed in the individual loan program promissory note.
Short term loans are given for books or tuition. Interest of 1% accrues monthly from:
- October 15th for Fall Term Loans
- March 15th for Spring Term Loans
- July 15th for Summer Term Loans
If the loan is not paid by the due date, a registration, transcript, and diploma hold will be placed on the student account until the loan is paid in full. Interest and late charges will continue to accrue until the loan is paid in full. At thirty days or more past due, the loans may be referred for collections or litigation.
The lender for these loans is the bank or credit union you designated as your lender. You may have borrowed from more than one bank or credit union. The University of Utah does not collect on these loans. They are usually collected by a secondary market or loan servicer. The following is a partial list of loan servicers:
- Cornerstone 1-800-663-1662
- Fed Loan Servicing (PHEAA) 1-800-699-2908
- Granite State – GSMR 1-888-556-0022
- Great Lakes Educational Loan Services, Inc. 1-800-236-4300
- HESC/Ed Financial 1-855-337-6884
Please visit https://studentaid.ed.gov/sa/ for more information about Federal Loan Repayment.