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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. You can enroll online at www.acs-education.com to service your account electronically.  Once enrolled you will be able to update your address, enroll in electronic payments, and view your account balance.

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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