If you do not pay charges owed to the University of Washington on time, your account will become delinquent and possibly go into default.
The following may also occur:
- Holds will be placed on your ability to register and access your academic records, e.g., your diploma and official transcripts.
- Payment plans do not remove holds. A payment plan in good standing will prevent referral to collection agencies.
- Additional fees may be charged to you, including collection fees based on a percentage, up to 40% of the amount owed.
- You may lose eligibility for other student aid and assistance under other Federal Loan programs.
- All loans are reported to national Credit Reporting Agencies and become part of the data used to determine your credit history.
- The entire loan balance (interest and principle) becomes due in full.
- You may lose the right to loan deferments and forbearances.
- Legal action may be taken.
Remember, many loan funds are a revolving fund: your payments enable future students to participate in the same program.
Lender and Servicer Links
- Heartland ESCI (formerly Campus Partners)- services UW campus-based loans
- Federal Direct Stafford, Grad PLUS or Parent PLUS Loan
- Alaska Student Loan
For Private Loans, please refer to your promissory note for lender contact information.
If you are having trouble making your scheduled loan payments , do not hesitate to ask for help. Don't wait until default occurs.