Your Rights and Responsibilities
Repayment of your Perkins, Nursing, or SPU Institutional loan is a serious legal obligation. Therefore, it is extremely important that you understand your rights and responsibilities and you agree to honor them. You must respond promptly to any communication you receive regarding your loan until it is paid in full. Please immediately report any of the following changes online at www.mycampusloan.com, or provide the information by email to the loan repayment office.

· Name change (documentation required)
· Address change
· Phone number change (home and work)
· Parent address/phone change
· Employment change (include employer name, position, address, and phone)

Exit Counseling
Just prior to graduation, or shortly after you withdraw or drop to less than half-time enrollment, you will be provided exit counseling. Exit counseling includes a repayment schedule for Perkins, Nursing, or Institutional loans that will tell you your payment amounts and due dates. You will also be provided specific information regarding the conditions and terms of your loan, default and debt management. You will have paperwork to complete and return to SFS for Perkins, Nursing, Institutional and Stafford loans. Each spring, several exit counseling sessions are offered to students; individual appointments may also be scheduled by contacting Student Financial Services. The exit counseling powerpoint presentation is provided as an additional resource.

If at any time you are unable to make a scheduled payment on time, contact SPU by phone or in writing immediately. You always have the right to prepay all or any portion of your indebtedness without a penalty.

Your promissory note provides information about deferment of your payments and cancellation of all or part of your Perkins loan under certain circumstances. To determine if you qualify for these special considerations, you must request and complete an application form. Upon receipt we will review your eligibility. We will notify you of the approval or denial. If you are approved you will also be notified of the due date of your next payment. Do not allow payments to become past due as this process is being completed. You are still responsible to make your payments on time until you are approved or denied.

Your loan is one of the first opportunities to establish good credit. According to federal law, we will have notified a national credit bureau of your debt. We send updates to the credit bureau for the life of your loan. A favorable rating on this loan will put you in good standing when you need credit elsewhere. A bad rating will affect your financial opportunities for an extended period of time as information remains on your credit report for seven years.

The loan you have borrowed is a serious business transaction, and should be handled in a professional manner. We will strive to extend professionalism and courtesy to our borrowers throughout the life of the loan.