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Loans Repayment/Debt

 

Consequences of Default

Student Debt Management


I Can't Pay My Loan

  • The full loan balance will be due immediately.
  • Holds are placed on the student's University record that will prevent access to transcripts and future enrollment.
  • The borrower will lose the right to forbearance, deferment, and cancellation benefits.
  • The default status of the loan will be reported to credit bureau organizations.
  • The borrower will lose the right to receive additional federal Title IV financial aid at all institutions that participate in the Federal Student Aid program.
  • The loan may be assigned to a professional collection agency and all costs associated will be assessed to the borrower and added to the balance when placed with the agency.
  • The loan may be assigned to the United States Department of Education.

If you are unable to make your scheduled monthly payments for any reason, contact the Student Debt Management Office at 303-315-1828 as soon as possible.

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