Regarding Loan Repayment
At Colorado State University, we encourage you to make informed decisions when taking out a student loan and only borrow the amount of funds needed to successfully complete your education.
As such, we also recognize our role in ensuring that you have the resources and knowledge necessary to repay any loan funding that you may have accepted while attending Colorado State University.
An important note regarding student loan funding:
At Colorado State University, we encourage you to make informed decisions when taking out a student loan, and to only borrow the amount of funds needed to successfully complete your education.
Exit Counseling
- Federal Student Aid provides an online informational session known as Exit Counseling that provides nearly every piece of information you will need to know about the loan repayment process.
- Federal Loan Exit Counseling is a mandatory online session required for students who are graduating, leaving school, or dropping below half-time enrollment and have received federal student loans.
- The purpose of exit counseling is to help you understand your rights and responsibilities as a borrower and to provide important information about repaying your loans.
- During the Exit Counseling session, you will learn about:
- Loan Repayment Plans: The various options available for repaying your federal loans, including standard, graduated, and income-driven repayment plans.
- Loan Servicers: Who your loan servicer is, how to contact them, and the role they play in managing your loan repayments.
- Deferment and Forbearance: How to temporarily postpone payments if you’re facing financial difficulties.
- Loan Forgiveness Programs: Eligibility for programs such as Public Service Loan Forgiveness (PSLF).
- Consequences of Default: What happens if you fail to make your loan payments and how it affects your credit and financial future.
- Loan Repayment Plans: The various options available for repaying your federal loans, including standard, graduated, and income-driven repayment plans.
- Exit counseling also provides personalized information, such as your current loan balances, interest rates, and estimated monthly payment amounts based on different repayment plans.
Loan Repayment Calculator
As you look to repay your accepted loans (or, to consider costs when accepting new loans), you can use this loan repayment calculator to estimate your potential future loan payments.
Federal Student Aid also offers a wide variety of resources regarding repayment of student loans, like: finding your student loan servicer, details on what repayment plan options may be available to you, when you must begin making payments towards your student loans, how to make those payments, and even what to do if you are having trouble making payments towards your student loans.
Loan Consolidation
If you have multiple federal student loans, you may be able to combine them into one loan with a fixed interest rate based on the weighted average of the interest rates of the loans being consolidated. Learn more about loan consolidation.
Repaying CSU RAM Loan, Perkins, & Health Professions Loan Funding
- When you enter repayment for your CSU RAM Loan, there is a minimum monthly payment of $40, with a maximum repayment term of up to 10 years.
- If you’re facing financial hardship, are on active military duty, or need information regarding loan cancellation due to death, please contact Accounts Receivable Operations for assistance with forbearance and deferment options.
- Student loan payments are due the 1st of each month.
- Late Fees: Payments are due on the 1st of the month, however you are provided with a grace period until the 10th of the month before a late fee is assessed. If you may need to make your payment after the 10th of the month, please include the late fee in addition to your scheduled monthly payment amount.
- Federal Perkins Loan – 10% of the monthly payment amount.
- Health Professions Loan – 6% of the monthly payment amount.
- Delinquent/ Defaulted Student Loan Accounts
- Colorado State University is required by federal guidelines to report delinquent accounts to at least one credit bureau agency. CSU begins reporting delinquent loans at 30 days past due.
- Has your account been assigned to CSU’s internal collections department?
- Contact Special Assets or 970-491-7058 to speak with a debt counselor.
- Have you received communication from an external collection agency?
- Contact the appropriate agency to discuss your loan.
- ConServe Accounts Receivable Management – 800-724-7500
- National Credit Management – 800-333-6787
- Todd, Bremmer & Lawson, Inc. – 877-427-6544
- Williams and Fudge – 800-849-9791
- Contact the appropriate agency to discuss your loan.
- Returned Checks/ACH (Automatic Payment Withdrawal) Insufficient Funds
- As provided by state law, a $17.00 penalty will be assessed to the account for each check or ACH not accepted by the bank because of insufficient funds, stopped payment, nonexistent account, or any other reason for which the borrower is responsible.
- In the event of a returned item, the Student Loans Receivable Office will notify the borrower by letter and assess a $17.00 returned item fee.
- If the borrower is set up on automatic payments and if a good payment is not made within 10 days to cover the returned item, the Student Loans Receivable Office will cancel the borrower’s ACH to avoid another returned item and additional fees.
- The borrower will then be responsible to make future payments in person, online or by mailing in a check or money order.
- Insufficient funds checks, under Colorado statute, may constitute a felony offense.
Information & Directions on CSU Loan Deferment
A borrower may defer scheduled payments while enrolled at least half-time as a regular student in an eligible institution of higher education (or comparable Department of Education-approved institution outside of the United States) for the purpose of obtaining a degree or certificate.
You must notify and request a “Student Deferment” for each term you are enrolled at another university. You can call us (970) 491-6467, ask us for a “Student Deferment”, and we will be able (in most cases) to verify your enrollment at another institution by checking an on-line website or you may submit a school deferment form each term that you are attending another Institution.
Application forms and other paperwork due dates are as important as payment due dates. If your paperwork is not received by the due date, you are responsible for payment and late fees as applicable.
You must continue to make scheduled loan payments until you receive confirmation of your deferment or forbearance status. Download School Deferment form.
