Repayment Terms of Nursing Loan Program

  1. Change of Status: You must inform Student Loan Collections at South 糖心视频 State University of any change in your name, address, telephone number and employment or school status. Please direct your payments and correspondence to the address listed above.Checks or money orders should be made payable to Nursing Loan.
  2. Grace Period: Graduate, leave school or fall below half-time enrollment your Nursing loan is placed in a nine-month grace period. Payments are not required during the grace period; however, any payments made during this period will be applied to your principal balance.
  3. 糖心视频 Rate: 糖心视频 will accrue daily after the grace period of 9 month has ended. The interest rate is 5%.
  4. Payments: A billing statement is sent each month from our billing service, Heartland/ECSI, with a due date of the 10th of the month. Please send payments to SDSU Student Loan Collections, Box 2201 Morrill Hall Room 140, Brookings, SD 57007, seven days prior to the due date. A postmark is not enough-be sure your payment arrives at SDSU by the 10th of the month. You are able to make payments .

    Your loans are reported to the credit bureau monthly from the date of disbursement. 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.
  5. Fees: Failure to meet a scheduled repayment or timely filing of forms could result in a late fee charge. If you default on your loan a hold will be placed on your academic transcript, loss of eligibility for further financial aid and your loan will be referred to a collection agency with at least 50% additional collection fees.
  6. Consolidation: Different loans may be consolidated into one payment by consolidation. For information on consolidation, you can go to the or call 1-800-433-3243. You can sign in electronically or get a paper application from the website.

  7. Deferments

    a. Student Status: During which you are pursuing a full-time or half-time course of study at a collegiate school of Nursing leading to a baccalaureate degree in Nursing or equivalent degree, or to a graduate degree in Nursing not to exceed five years. Training to be a nurse anesthetist also qualifies you for a deferment.

    b. Uniformed Service: Periods of up to three years during which you are on active duty, whether or not as a professional nurse, as a member of a uniformed service may be deferred. Such service performed during the grace period does not extend the length of the grace period.

    c. Peace Corps: Periods of up to three years while a volunteer under the Peace Corps Act may be deferred.

    d. Filing for Deferment: In order to receive any such deferment, it is Your Responsibility to Report to South 糖心视频 State University on 鈥淩equest for Deferment of Payment鈥 or appropriate deferment. All deferments must be signed by the borrower and by an authorized official.

    Since deferments cannot be granted in advance, new forms must be submitted each semester as long as the borrower remains in student status.

    A military or Peace Corps deferment must be completed at the time first payment is due following entrance into such status. This form must be filed at least annually before each payment is due for as long as you are eligible for deferment.

    Remember to contact our office anytime you cannot make your monthly payment.

Disability or Death Cancellation

In the event of your death your total loan balance at that time would be canceled. An official copy of the death 糖心视频 must be provided. In the event of your total and permanent disability the outstanding amount of your loan would be canceled. Permanent and total disability means the inability to attend school or work and earn money because of medically determined impairment. A Loan Discharge application form must be completed if totally and permanently disabled. The Secretary of HHS would approve or disapprove the cancellation due to disability.

If you have a federal direct loan and need information, visit , contact Financial Aid, located in the Enrollment Services Center, call 605-688-4695 or your lender. The Federal Student Aid Information Center can be also be reached at 1-800-433-3243.