University Loan Repayment and Deferment
Once you graduate, transfer, or cease to be enrolled on a full time basis, your Institutional Loan will enter into a six month grace period. Saint Louis University is the lender of the loan and your payments will be made to our billing agent, University Accounting Service. You are not required to make payments during the grace period, and any payments made during the grace period before your first interest accrual will be applied towards principal.
The status of all loan accounts are reported to a national credit bureau monthly.
A deferment is an authorized period of time in which payments may be delayed and interest does not accrue. Any payments made during this period may be applied to principal. To be eligible for deferment you must be performing a specific activity, such as your medical residency and your account must be current.
To apply for a deferment you must complete a "deferment form". We suggest that you submit the deferment form no more than 30 days before the end of your grace period or previous deferment. Please note that failure to submit the deferment form by the due date may result in late charges and negative credit bureau reporting.
If you cease to perform the activity for which your account was deferred, you must notify the Office of Student Loans immediately by phone at 314-977-4207 or by email at email@example.com. Your loan payments will only qualify for deferment for the time period that you were doing the qualifying activity.
The table below lists the deferments applicable to the University Loan:
|Advanced Professional Training (Residency):||Unlimited||Annually||Submit a completed deferment request form. Note that for Residency the form is self certifying.|
|Graduate Fellowship:||2 years||Annually||Submit a completed deferment request form that has been certified by the Department Head.|
|Active Military Duty:||3 years||Annually||Submit a completed deferment request form that has been certified by your commanding officer.|
|Peace Corps:||3 years||Annually||Submit a completed deferment request form that has been certified by your commanding officer.|
If you have questions about these or other types of available deferments, please do not hesitate to contact the Student Financial Services Office at 314-977-9840 or the Office of Student Loans 314-977-4207
Deferment forms can be mailed to:
Saint Louis University
Office of Student Loans
Attn: Meg Kupferer
221 N. Grand Blvd. Room 151
St. Louis, MO 63103
Your Institutional Loan will be canceled in the event of your death or total and permanent disability with the proper certification.
Your Institutional Loan is not eligible for federal consolidation.