Entering Repayment

Loan Services will send you an email with instructions on how to complete your "exit interview". This information will be sent to you depending on your Separation Date.

Your Separation Date

Your UCI separation date is determined by your enrollment status at UCI. If you drop below half-time enrollment, leave UCI for any reason (including enrolling elsewhere), or graduate, your separation date is your last date of eligible enrollment at UCI. You have already given us your "expected" separation date and have agreed to keep us informed if your separation date changes. So, if you decide to enroll for longer than you expected or if you decide to leave UCI earlier or drop below half-time enrollment, contact Loan Services to update your loan information.

Your Lender(s)

Campus-Based Student Loans
For most loan programs, UCI is the actual lender--these are your campus-based and institutional loans. As your lender, we will provide you with information about your loan repayment, including deferment forms and a copy of your promissory notes before you enter repayment. UCI Loan Services administers these loans throughout your repayment period.

Federal Direct Loans
For Direct Loans (William D. Ford Federal Direct Loans, Subsidized Direct Stafford Loans, Unsubsidized Direct Stafford Loans, and PLUS loans for parents), UCI is the originator while the U.S. Department of Education is your lender. These loans are serviced by the Department of Education's Direct Loan Servicing Center until the loan is repaid in full. For address and repayment information for these loans, select Repaying Your Direct Loan.

Repayment Information
UCI Campus-Based Student Loans

(For information on repayment of Federal Direct Loans, see Federal Direct Loan Repayment.)

ACS, Inc. -- UCI's Loan Servicer

UCI uses ACS, Inc., a professional billing agency, to bill and receive payments and to provide other services for your educational loan(s).  This loan servicer has knowledgeable and helpful staff to assist you during repayment.

UCI borrowers can telephone ACS, Inc. at (866) 575-4517 to obtain loan information, or request other services.

Send correspondence to:

ACS, Inc.

2505 South Finley Road, Suite 100

Lombard, IL  60148-4899

UCI Loan Services staff can also assist you; contact Loan Services if you have problems or need special help.

Bills and Notices

• Notices During the Grace Period

  If your loan has a Grace Period, your first contact from ACS, Inc. will be a grace notice that summarizes your loan obligation(s). A grace notice is sent during your initial grace period following your separation from UCI.

  Your grace notice will include an introductory letter from ACS, Inc., general information about your loan(s), a loan statement, and a deferment form. Keep these documents in your loan file for future reference. The information will include account and loan numbers that you should reference when making payments, completing deferments or other forms, or when inquiring about your loans. The student loan statement indicates the amount you have borrowed, your repayment schedule, the total of payments you will make over the life of the loan, and shows when your first payment is due.

  Review the deferment/cancellation form. If you qualify for any of the listed deferments or cancellations, complete the form, have it certified, and forward it to correspondence address for ACS, Inc. for processing.

• Billing Statements

  Your first billing statement will be sent about 30 days before your first payment is due. Thereafter, you should receive billing statements from ACS, Inc. approximately 10 to 15 days before the due date of each installment.

  Most UCI loans are repayable in quarterly installments, so you'll make a minimum of four payments each year. Your installment due dates are determined by your UCI separation date. For example, students who graduate from UCI in June receive billing statements in January, April, July and October. If you prefer monthly rather than quarterly billing, you may contact ACS, Inc. to sign up for Automatic Bill Pay at (866) 575-4517.

  The billing statements show the amounts due and the due dates of your installments. The statements also show balances, the amounts you have paid, and the last loan activity. A stub is included to send with your payment and to use to make address and phone number changes.

Your Loan Billing Address

When you received your loan funds, you agreed to inform UCI Loan Services of any change in your name or address until your loans are paid in full. You need to inform us of these changes immediately.

Remember that you are obligated to make payments as required by your loan program whether you receive bills or not. Keeping your address information current will allow us to stay in contact and to send you bills and other information you will need about your loan benefits and requirements. Be sure to keep your telephone number updated too--we may need to telephone you with loan information.

• Changing Your Address or Phone Number

  You can make address or phone number changes online at http://www.acs-education.com or by telephoning ACS, Inc. at (866) 575-4517. You may also contact UCI Loan Services to make changes.

Making Payments

• Sending Payments

  To make your payments, return the stub portion of your statement(s) with your check or money order in the envelope enclosed with your statement. Be sure to write your account number(s) on your check.

  Checks should be made payable to UC Regents (or Univ of CA-Irvine).

• "ABP" -- Automatic Bill Pay

  ACS, Inc. offers a convenient and efficient way to make your student loan payments called ABP With ABP, you can make arrangements to make your regular student loan payments automatically by having them deducted from your checking account.

  ABP can save you time and money by eliminating postage costs and the need to write checks. You will also be building a good credit rating because your payments will be on time. ABP transactions will appear as a debit each month or quarter on your banking statement. The ABP plan is available on accounts at all financial institutions on which a check or draft can be written.

  Visit http://www.acs-education.com for more information.

• Advance and Accelerated Payments

  Any amount you pay in excess of the amount due will be applied as an accelerated payment. The excess amount will be applied to the principal balance of your loan. You will still be billed for your next regular installment, but accelerated payments reduce the total amount of interest you pay over the life of your loan.

  If you want to pay one or more future installments, you need to let us know that your payment is an advance payment. For example, if you are going out of the country for a period of time, you may want to make your payments in advance so that you will not be billed again until you return. Check the box on the billing stub which says, "Check if paying future bills (not for payoff)" to make your advance payment.

• Payment Problems?

  You agreed to make your student loan payments on time as scheduled when you borrowed from UCI and signed your promissory notes. Occasionally, however, borrowers encounter unforeseen circumstances such as job loss or illness that cause difficulties in meeting agreed-upon repayment obligations. You need to contact us before an installment is due if you will be unable to make your full payment. We will work with you and we may be able to assist you with a payment solution if you discuss your situation with us. If you have payment difficulties, contact your Account Representative in UCI Loan Services.

Deferment, Postponement, and Cancellation

Many UCI loans have deferment and cancellation benefits. These benefits differ according to the loan program and the date you received your loan. Deferment and cancellation benefits are described in your promissory notes. (For summaries of deferment and cancellation categories for current UCI loans, select a loan program under UCI Loans.)

Deferment provisions allow eligible borrowers to defer principal payments (and usually the accrual of interest too) for specified periods of time when they are in certain categories (students or public service, for example).

Cancellation benefits allow eligible borrowers to cancel a portion of their loans after they have completed qualified service (usually a year) in certain areas, like teaching or military service. Borrowers who are eligible for loan cancellation usually must request postponement of payments at the beginning of a service period and then request cancellation at the end of the period.

• Requesting Deferment, Postponement, or Cancellation

  In order to receive deferment, postponement, or cancellation benefits, borrowers must make the request in writing and provide us with documentation needed to establish eligibility. There are special forms to use to request these benefits. These forms are available at http://www.acs-education.com .

  Deferment and cancellation forms must be submitted to ACS, Inc. at least annually, and must be received by them on or before your installment due date.

  Deferment, postponement, and cancellation forms have several sections and each section must be completed properly to request the benefit. There are borrower sections to be completed and signed, and sections to be completed by an official authorized to certify your student status, employment, or service period. If you are unclear whether your status qualifies for deferment, postponement, or cancellation of your loan, or the steps to take to request these benefits, contact us in Loan Services.

  Credit Reporting

  UCI uses ACS, Inc. to report campus-based and institutional loans and to update your student loan account data with national credit bureaus. Some loans are reported first when the money is borrowed, while other loans are reported for the first time only when the loan becomes past due. If you have student loans from other lenders, these loans are also probably reported to at least one credit bureau.

  The web sites of the three national credit bureaus provide a wealth of information on credit reporting including consumer rights, descriptions of the uses and contents of credit profiles and reports, and answers to frequently asked questions about credit and credit reporting.

  EQUIFAX	(800) 685-1111
  experian	(888) 397-3742
  TRANSUNION	(800) 888-4213

  A consumer credit report (or credit profile) is a factual record of an individual's credit payment history. Credit reports will usually contain five categories of information:

  1. Identifying information;
  2. Employment information;
  3. Credit information;
  4. Public record information; and
  5. Inquiries.

  Federal law specifies who may obtain a copy of your credit report and how it may be used. Your credit records may be reviewed in connection with one of the following:

  • A credit transaction or other legitimate business need
  • Your application for a government license
  • Employment purposes such as hiring or promotion
  • Underwriting insurance
  • A court order or federal grand jury subpoena
  • Your written instructions

  Credit grantors use your credit history information to make decisions about granting you credit; a good credit record can provide you many benefits as a consumer and can help you meet your financial goals. Remember that your student loan payment record can be just as important as any other installment repayment record, and can help you establish a good credit reputation. Make your student loan payments on time to establish a good payment history.

  Payment in Full

  To pay your loan in full, call Loan Services for an accurate payoff amount. After your loan obligation has been satisfied, UCI will mark your original promissory note "paid in full" and return it to you within 60 days of the last payment applied on the loan.

  Your loan payments are "recycled" and will be lent to other UCI students. Your payments support and maintain low-interest loan programs at UCI.  Thank you for your cooperation in meeting this important obligation and for your support of student loan programs at UCI!

  Past Due Loans

  You need to repay your loan(s) on time to avoid late charges and negative credit bureau reporting and to help ensure that low-interest loan programs continue at UCI.

  A loan may become past due if you miss a payment, pay late, pay less than the amount that is due, or if you fail to submit required information (such as a deferment, cancellation or postponement form) on time. When a loan becomes past-due, late charges are assessed, the past-due payment is reported to credit bureaus, and UCI services are withheld.

  • Don't Allow Your Student Loans To Become Delinquent

    Fortunately, very few UCI borrowers allow their student loans to become delinquent. This is important because student loan repayments are used to provide new student loans at UCI. Also, UCI must meet default rate requirements set by the federal government to participate in federal aid programs. Not only can a past due loan cause problems for a delinquent borrower, it can also jeopardize other students' eligibility for funds to finance education.

    There is no excuse for having a delinquent student loan account or defaulting on repayment. There are solutions.  Although we notify you when payments are due, and will try to contact you if you become past-due, you must make payments on your loan even if you do not receive a bill or repayment notice. Billing statements are sent to you as a convenience, and you are obligated to make payments even if you do not receive any notice from your lender(s). If you do not receive bills, think you may be past-due, or receive past-due notices, contact Loan Services NOW.

    If you have payment difficulties, there are a number of options that may help you establish and maintain satisfactory repayment arrangements. These options may include hardship or unemployment deferments, forbearance arrangements, payment rescheduling, or loan consolidation.

    If a past-due situation is allowed to continue, we shall carry out our responsibilities to begin standard collection procedures. "Collection procedures," includes a series of more intensive efforts, including litigation, to recover amounts owed from defaulted borrowers. For federal programs, UCI is required to pursue collection activities prescribed in regulations by the U.S. Department of Education or the U.S. Department of Health and Human Services.

  Loan Defaults

  A borrower is in default on a loan when there is a failure to make an installment payment when it is due or to comply with other terms of the promissory note. When a loan default occurs, UCI initiates a series of steps to effect repayment of the loan. UCI actively pursues these measures for all loan programs and we try to give borrowers many options to correct the delinquent status of their accounts.

  • Consequences of Default

    Once a loan becomes delinquent and/or enters default status, the following steps may be taken to recover the outstanding balance due:

    • Imposition of late charges
      When UCI loans become past due, late charges are added to the principal and interest charges due.
    • Suspension of campus services including registration, transcripts, and diplomas
      UCI places "holds" on campus records and suspends eligibility for UCI services to borrowers whose UCI loans are past due. Holds may be released and eligibility for campus services may be restored if borrowers bring accounts current and/or make satisfactory payment arrangements.
    • Negative reports to national credit bureaus
      Defaulting on a student loan can have negative consequences on a borrower's credit history. Lenders and servicing agencies provide information regarding defaulted student loans to national credit bureaus. Besides borrower identification information, we report the balance due on the student loan and the fact that the loan is in default. Once the loan has been reported to credit bureaus, we continue to report the updated balance due on a monthly basis until the balance due is zero. The fact that a borrower is repaying a defaulted loan does not change the agency's reporting. Also, the fact that a defaulted loan is paid in full changes the balance due that is reported; it does not delete the original information reported.
    • Withholding California State Tax refunds and applying them to past-due loans
      Under agreement with the State of California Franchise Tax Board, the University of California submits delinquent student loans for "offset" of California state refunds. If a UCI student loan is delinquent, state refunds are applied to reduce the amount(s) due on the delinquent loan.
    • Loan acceleration
      When a borrower defaults on a student loan, the loan may be "accelerated." When this occurs, the maturity date of the loan is accelerated, making payment in full immediately due. Under acceleration, the original payment schedule no longer applies and all principal amounts borrowed, all interest accrued, and all other loan costs and charges are payable immediately. Borrowers may also lose eligibility for other loan benefits, such as deferment and cancellation, when loans are accelerated. UCI usually accelerates defaulted loans before referring them to a collection agency.
    • Referral of the loan to a collection agency and assessment of collection costs
      According the Higher Education Act and the terms of most promissory notes, borrowers are liable for the costs of collecting defaulted student loans. The largest of these costs is usually the cost of contingent fees that may be incurred to collect the loan. UCI makes repeated attempts to receive payment on a delinquent loan. If these warnings do not result in satisfactory repayment, UCI refers delinquent accounts to collection agencies. The agencies earn a commission, or contingent fee, for payments then made on the loans. Each borrower pays the "collection cost" of the commission. Payments received from borrowers are applied first to pay the contingent fee earned for that payment, and then to late charges, interest, principal or other amounts owed on the debt. Therefore, the amount needed to satisfy a student loan debt referred to a collection agency can be from 25 to 50 percent more than the principal and interest owed.
    • Assessment of other collection costs
      Borrowers may be assessed costs for other activities conducted to collect a past-due loan. These charges may include the costs of telephone calls or skip-tracing efforts made by UCI to collect loan payments due.
    • Loss of deferment and/or cancellation benefits and ineligibility for further federal student financial assistance
      Once a loan is declared in default, borrowers are no longer entitled to deferment or forbearance of payments. In addition, borrowers may not receive any additional Title IV Federal student aid if they are in default on a Title IV (federally funded) student loan.
    • Litigation and assessment of litigation costs and attorneys fees
      UCI, the U.S. Department of Education, and guaranty agencies pursue recovery of defaulted student loan debts through litigation. Borrowers who refuse to voluntarily repay student loans may be sued in State or Federal District Courts for the outstanding balance(s), including collection costs, attorney's fees, and court costs.
    • Assignment loans to the U.S. Department of Education for recovery
      Defaulted Perkins (federal) student loans may be assigned by UCI to the U.S. Department of Education. Once a loan is assigned for collection, the U.S. government may take additional steps to recover the outstanding balance due on a student loan.

    For additional information on defaulted student loans, see the U.S. Department of Education's Guide to Defaulted Student Loans.

  • "Curing" defaults

    There are serious negative consequences for both the defaulting borrower and the student loan program when a default occurs. Nevertheless, there may still be remedies for borrowers who have defaulted on a student loan and who wish to repay. These remedies are known as "cures" for default. Borrowers who have defaulted on repayment of UCI loans are encouraged to contact Loan Services to receive information on "curing" defaults and to make arrangements to repay their loans rather than avoiding their obligations to repay as promised when the funds were received.

  Collection Agencies

  UCI makes repeated attempts to receive payment on delinquent student loans. If our attempts do not result in satisfactory repayment, we refer delinquent accounts to collection agencies. Loans referred to our collection agencies are usually accelerated and borrowers are required to pay collection costs (which can be from 25 to 50 percent more than the principal and interest owed on a delinquent loan). Once an account is referred to a collection agency, borrowers need to interact with the collection agency who is authorized to pursue collection of debts on UCI's behalf.

  We in Loan Services can help you avoid unnecessary expense and grief. It takes good communication. Call us as soon as you know you cannot make a payment and BEFORE your loan is referred to a collection agency.

  ---

  FS Home | Loan Services Home