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Student Loan Repayment

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Because it is a debt that must be repaid, an educational loan is a serious financial and legal obligation.

This section explains the basics of repaying your student loans:

Payment Schedule
  • Beginning Repayment
    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.

    If Northwestern services your loan, you will receive a repayment schedule before repayment begins. The repayment schedule contains a complete list of payment dates and amounts. If for any reason, you do not receive a bill, you are still responsible for making payments until the loan is repaid within its terms.
  • Billing
    Campus Partners will send you a single consolidated bill for all of your loans serviced at Northwestern. Your bill is sent out approximately 20 days before the payment due date.

    If you should have received a bill but did not, Campus Partners may not have your correct address. The quickest way to update your address is to go to mycampusloan.com and Update your Profile. Regardless of whether you receive a bill, you are responsible for making your student loan payments on time.
  • Payment Deadlines
    Your payment due date is based on your last name:
    If your last name starts with A – H:
    8th of each month
    If your last name starts with I – Q:
    16th of each month
    If your last name starts with R – Z:
    24th of each month

Payment Methods
Campus Partners accepts the following three forms of payment:
  • Mailed payments
    Send a check to:
    Northwestern University
    P.O. Box 970004
    Boston, MA 02297-0004

    Payments sent to this address must include the coupon from the Campus Partners' bill or your Campus Partners' 16-digit account number (it will begin with 10489).
  • Automatic Draft (ADD) payments from a U.S. bank account
    ADD should be used for regular, monthly payments from a U.S. bank account. You can sign up for ADD at mycampusloan.com. ADD will start with your next unbilled payment.

    Although the ADD sign-up will allow you to choose any day of the month, NU is limited to the 8th, 16th, and 24th as possible draft dates. Please choose one of these dates for your ADD.
  • E-Pay from a U.S. bank account
    E-Pay should be used for single loan payments, not regular withdrawals. You can sign up for E-Pay at mycampusloan.com. E-Pay withdrawals can be made on any date.

    You may still send a payment to Northwestern, but these payments will take longer to process. The quickest way to get a payment posted is to use the online payment option. The second quickest way is to send the payment to the Boston address.

Payment Problems
If for any reason you are unable to meet your monthly loan obligations, contact your loan services representative. They will work with you to restructure your payments to make them more affordable. For some loans, temporary payment plans, graduated repayment schedules, or forbearance may be available.

For explanations or for more information on receiving help with your student loans, see the Consolidation and Payment Assistance Options page.

We will make every effort to work with you to clear up any delinquencies before you go into default on your loans.

Delinquency occurs when you fail to make your loan payments on time or, as applicable under the terms of your promissory note, fail to submit the necessary deferment, forbearance, or cancellation form prior to the scheduled due date.

Results of delinquency:
  • Your delinquent payment may be reported to major credit bureaus.
  • You will be charged late fees (in accordance with your promissory note).
  • Your transcripts will he held.
Default occurs when you become seriously past due on your loan payments. You can also be considered in default if you do not sign your repayment schedule, notify your lender of any changes to name, address, or your enrollment status, or file a deferment or forbearance form or other appropriate paperwork.

Results of default:
  • Your credit rating and ability to borrow will be seriously damaged.
  • You may lose future eligibility for financial aid and student loans.
  • You may be sued and be responsible for court costs and legal fees.
  • Your Federal income tax refund may be withheld.
  • Your professional license could be denied or revoked.
  • Your academic records will be placed on hold.
  • Your employer may withhold part of your salary for payment of your loans.
  • You will be denied certain jobs.