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Northwestern University


Terms and conditions

I am having trouble making my loan payments. How do I apply for forbearance?

For loans serviced at Northwestern, contact your loan services representative in Student Finance to discuss your situation. If your representative recommends applying for forbearance, you will complete the appropriate application forms:

  • Financial hardship forbearance: Download and complete the financial hardship forbearance request form if you are experiencing financial difficulties, and you need to request forbearance from your loan payments for a short period of time.
  • Medical forbearance request: Download and complete the medical forbearance request form if you graduated from the Northwestern University medical school, are in a medical residency or fellowship program required for training and are experiencing difficulties making your loan payments.

Return the completed form to your loan services representative.

I will be enrolled in a graduate program. How do I apply for a student deferment?

Contact a loan services representative to discuss your situation before your graduate program begins. If you are eligible to apply, you can download the deferment application form from the Campus Partners web site. Complete and return the form to Student Finance. You will receive a letter when your deferment is approved. Keep a copy of your deferment approval for your records.

I am teaching school in a low-income area. How do I apply for cancellation of my Perkins Loan?

Contact a loan services representative to discuss your situation. If you are eligible to apply for a cancellation, you can download the application form from the Campus Partners web site. Complete and return the form to Student Finance. At the end of each service year, you must complete a cancellation form that verifies that you have met the service obligation. Return the completed form to Student Finance for cancellation of the appropriate percentage of your loan. Keep a copy of your cancellation forms for your records.

Remember that you are obligated to continue repaying your loan until your deferment is effective. Be aware of when your deferment expires and, if applicable, apply for renewal of your deferment in a timely manner.

The Perkins loan is unique among student loans in that it offers a variety of cancellation provisions for qualifying borrowers. See the Federal Student Aid website for the Cancellation and Discharge Summary Chart. All of these cancellations come with a deferment of interest or a postponement of payments. In some cases, 100% of the principal can be canceled if you stay in a qualifying position long enough. If you have any questions about cancellations, or if you want to apply, you must contact Student Finance. If you borrowed Perkins funds from another institution, you must contact that institution directly.

I am confused about the terms and conditions of my loan. Who can help me?

Northwestern's loan service representatives are available to assist you with questions or concerns about your Northwestern student loans serviced by Northwestern University Student Finance.

Billing and payment

When do I begin repaying my loans?

Most student loans do not have to be repaid until you leave the University or drop below half-time student status. A grace period is usually provided. However, you should refer to your original promissory notes for details of when repayment begins for each loan.

How is my payment applied to my loans?

Loan payments are applied as follows:

  • First to fees
  • Second to accrued interest to the date the payment is recorded
  • Last to principal
Unless otherwise instructed by you, all overpayments will be applied to the principal balances of your loans proportionally based on your current monthly payment amounts for each loan. If your loan payments are up-to-date and you wish to have your overpayments applied to a particular loan only or to multiple loans in some other proportion, please include those instructions on the payment stub with your payment.

What happens if I pay more than the payment due amount?

Paying more than the payment due amount (and all outstanding interest and fees) will reduce the loan principal and, as a result, also reduce the repayment period and the amount of interest paid over the life of the loan. This is called an accelerated payment. It does not relieve you of the responsibility to make the next scheduled payment. Your loan payments must be up-to-date in order to make an accelerated payment. You have the option to advance your payment to cover six future bills.

Is my loan payment history reported to the credit bureaus?

All Federal loans are reported to the major credit bureaus. This occurs at the time the loan is disbursed and continues until the loan is paid in full. Current as well as delinquent payments are reported. As a result, during your loan repayment period you have an opportunity to establish a favorable credit rating. You may obtain a copy of your credit report at

Is Campus Partners ( available 24/7?

No, is not available from midnight until 7:00 am, Eastern Time due to loan processing.

Where do I send my payments?

Send checks to:
Northwestern University
PO Box 970004
Boston, MA 02297-0004

Payments sent to this address must include the coupon from the Campus Partners' generated bill or the Campus Partners' 16-digit account number (it will begin with 10489).

How do I set up automatic withdrawal from my bank account?

You can sign up for Automatic Draft (ADD) at ADD will start with your next unbilled payment. Although the ADD sign-up will allow you to choose any day of the month, NU only allows the 8th, 16th, and 24th as possible draft dates. Please choose one of these dates for your ADD.


What can I consolidate?

You can consolidate any or all of your Federal loans including PLUS, Grad PLUS, SLS, Perkins or HPSL. Debts that cannot be included in loan consolidation are PCL, HEAL, NU Loan, Endowed and all privately funded loans.

How do I get the information my consolidator requires about my Northwestern Perkins loan?

First, call Student Finance to get your Perkins loan balance, remaining term and scheduled payment. Then your consolidator will send a Loan Verification Certificate form to Student Finance. When the form is completed and returned to the consolidator, you will receive a letter from Student Finance. If you have any questions, contact your Northwestern student loan representative.

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