We, in UCI Loan Services, appreciate the value of student loans as an option for financing, and investing in, your education. We also understand that borrowing money can be an intimidating prospect. We know that loan provisions can be complex and confusing, especially for students who borrow from more than one program. Our experience with thousands of student loan borrowers also tells us that with good information, and a little help, borrowers are able to understand and manage their loan obligations quite successfully.
Loan Services is here to assist you to understand your rights and responsibilities as a borrower and to help you manage your loans. We provide "entrance counseling" when you first receive a loan, "exit counseling" before you begin repayment, and answer your questions along the way. For campus-based and institutional loans, we keep your promissory note and continue to be your contact throughout your repayment period. Although your student loan information is contained in your promissory notes, we are always glad to explain loan terms and loan forms, the steps to follow to assure that you obtain loan benefits for which you are eligible, and the things you need to do to keep your loan agreements.
Here are some of the things we do:
The campus has set aside a small fund to be used by employees in cases of extreme and unforeseeable emergency. The maximum loan amount is $1,000 usually with a three-month repayment period. Loan repayment is made through payroll deduction.
Employees requiring an emergency loan may contact Loan Services at (949) 824-7310, during regular business hours. Loan Services oversees the application process and submits requests to the loan committee for consideration. Approval is typically accomplished within 24 hours, and a check is available for pick-up in Loan Services, 101 Administration, approximately 48 hours following approval. Guidelines and procedures, along with an application form, may be found in UCI Policies and Procedures, Section 700-05.
U.S. Bankruptcy Coordination
Loan Services coordinates bankruptcy activities for the UCI campus. When UCI is named
as a potential creditor in a bankruptcy claim, we contact UCI departments, obtain
necessary information, instruct departments on required actions, and prepare a campus
response to the court. We coordinate activities between the courts, UCI, relevant campus
departments, and the debtor or debtor's representatives until bankruptcy actions are
concluded. We also maintain bankruptcy-related documents for UCI.
Loan Collections
Loan Services works to assure the availability of revolving loan funds for UCI
students by conducting activities to assist borrowers to meet their loan repayment
obligations and to resolve loan delinquencies and defaults. We actively engage our
borrowers by letter and telephone to resolve account difficulties.
Almost all UCI borrowers repay their student loans as promised, which makes these loan funds available for new UCI loans. When repayment obligations are not met, Loan Services vigorously pursues action to effect repayment. We oversee several programs designed to reduce defaults and protect valuable UCI loan funds: 1) credit bureau reporting; 2) California Franchise Tax refund offset; 3) referral to commercial collection agencies; and 4) litigation.
Loan Program Management
In additional to our customer service and collection activities, Loan Services
monitors state and federal laws and loan regulations to maintain program compliance and
eligibility for loan funds. We monitor and reconcile financial activity, interact with a
number of agencies, and provide reports on loan activities.
Loan Services:
How to Contact Us