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Student
Loan Billing and Payment Office
Frequently Asked
Questions
Q: Does
Yale University offer monthly electronic payment of my student
loans?
A: Yes.
If you have a United States checking account, you can enroll
in our electronic payment process by completing an Authorization
for Electronic Payment. For additional information and to
download the Authorization form please click
here.
Q: Whom
do I need to contact if I want to consolidate my loans?
A: There
are several agencies that provide loan consolidation programs.
Two of the most widely used programs are Sallie Mae (1-800-448-3533,
http://www.salliemae.com
) and William D. Ford (1-800-557-5543, http://www.loanconsolidation.ed.gov).
Q: When
will I receive my monthly student loan statement?
A: Statements
are mailed on the first business day of each month.
Q: I
mailed my payment near the end of the month but it didn’t
show on my next monthly statement. Why?
A: Payments
received on or before the last business day of a month are
reflected on your monthly statement, which is mailed on the
first business day of the following month. Please send your
payment at least SEVEN business days prior to the due date.
Your payment must have arrived after the last business day
of the month.
Q:
Whom do I contact if I need to change my billing address for
my student loan account?
A: Address
changes can be sent to our e-mail address, slac@yale.edu.
You can also send your request to: Yale University, Student
Loan Billing and Payment Office, PO Box 208338, New Haven,
CT 06520-8338.
Q: Does
Yale send end-of-year tax statements for interest paid on
my student loan(s)?
A: Yes.
IRS form 1098-E is sent annually by the end of January.
Q: I
qualify to have my Perkins loans cancelled. What do I need
to do?
A: You
must complete the Deferment/Cancellation form (see the forms
section of this website). You need to apply for a deferment
for the twelve-month period that you are working in a qualified
field. Once the twelve-month period is over you, need to complete
the Cancellation form and submit it to our office. At the
same time, you can complete the deferment form for the following
twelve months.
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