Federal Perkins / Health Profession Student

Defaulted student loans are referred to outside collection’s agency at 150 days past due. The University has contracted with at least four agencies to perform collection services. An additional collection fee will be assessed to the debtor. The assessed penalty is 25% to 50%. All possible means to collect will be pursued which may include legal action and may result in a judgment and/or wage garnishment.

Every attempt is made to contact the client and establish a repayment plan before the loan is referred to an outside collection’s agency.