Frequently Asked Questions

Summary of Loan Programs

Forms

Related Websites

Student Loan Billing and Payment Office

The Student Loan Billing and Payment Office is responsible for the management and collection of Federal Perkins Loans, Yale Student Loans, and Health Profession Loans. The links included in the information below allow you to download and print various forms and provide important loan-related information.

Student Loan Billing and Payment Office
Phone: 203-432-2727
Fax: 203-432-2725
E-Mail: slac@yale.edu
Office Hours:
Monday-Friday: 8:30 a.m. - 4:30 p.m.

Forms:

Student Loan Servicing Information

Authorization to Discuss Loans with Third Party

You may grant a third party (spouse, parent, etc.) the ability to discuss your loan account with a Student Loan Specialist.

Please send the following information to the Student Loan Billing and Payment Office at the mailing address or email address shown above:

Name of third party, complete address, home phone number and relationship. Include your account number on all correspondence.

NOTE:

• If by mail, your authorization must include your signature.
• If authorization is sent by email, it must be sent from an email address that bears your name.

SUMMARY OF LOAN PROGRAMS

The Student Loan Billing and Payment Office services the loan programs listed below. Click on the loan program that you are interested in to review a summary of the deferment and/or cancellaton benefits. For specific details, please refer to your promissory note(s).

SUMMARY OF BENEFITS CHART

The Summary of Benefits chart lists all of the loan programs serviced by the Student Loan Billing and Payment Office and their respective deferment, forbearance and/or cancellaton benefits. The chart is in PDF format so that you can print or save the information for future reference.

Specific Information – Cancellation (Federal Perkins and NDSL loans only)

1. In order to qualify for a service cancellation you must be employed full time, for a period of twelve consecutive months in a qualifying position (see list below).

2. You must submit the proper cancellation request form at the beginning of the twelve month period in order to defer your payment. If a form is not received you will be required to make monthly payments on your loan. Any payment received will not be refunded.

3. Forms must be received annually if you continue your employment in a qualifying position and are requesting cancellation benefits. If you change employers during the twelve month period you must complete a form from your previous employer and your current employer.

4. All forms must be signed by an individual who will certify your employment status.

5. You may request a Cancellation form by clicking here, writing to the Student Loan Billing and Payment Office (address), or email at slac@yale.edu.

Service Cancellations

1. Teaching Cancellations – up to 100% (over a 5 year period) if you serve full time in a public or nonprofit elementary or secondary school system as a:

a. teacher in a school serving students from low-income families;

b. special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or

c. teacher in the fields of mathematics, science, foreign language, or bilingual education, or in any other field of expertise that is determined by a state education agency to have a shortage of qualified teachers in that state.

d. For Teacher Cancellation related to teaching in a low-income school, please refer to the following website to determine if your school qualifies for this benefit - http://studentaid.ed.gov/. Select the “Repaying” tab.

2. Nurse or Medical Technician Cancellations – up to 100% (over a 5 year period) if you serve full time as:

a. a licensed practical nurse, a registered nurse, or another individual who is licensed by the appropriate state agency to provide nursing services;

b. an allied health professional who is certified registered, or licensed by the appropriate state agency in the state in which he or she provides health care services, and is someone who assists, facilitates, or compliments the work of physicians and other specialists in the health care system.

3. Employee of an eligible public or nonprofit private child or family services agency may cancel up to 100% (over a 5 year period) if you provide or supervise the provision of services to both high-risk children who are from low-income communities and the families of such children.

4. A qualified professional provider of early intervention services may cancel up to 100% (over a 5 year period) if employed in a public or other nonprofit program which is under public supervision.

5. A staff member in the educational part of a preschool program carried out under the Head Start Act may cancel up to 100% (over a period not to exceed 7 years).

6. Law Enforcement or Corrections Officer – up to 100% (over a 5 year period) if you serve full time with an eligible agency in a qualifying position such as:

a. employment with a local, state, or federal agency that is publicly funded and its activities pertain to crime prevention, control, or reduction or to the enforcement of the criminal law;*
i. Agencies that are primarily responsible for enforcement of civil, regulatory, or administrative laws are ineligible.

b. a sworn law enforcement or corrections officer or person whose principal responsibilities are unique to the criminal justice system and are essential in the performance of the agency’s primary mission (documentation is required);

c. a prosecuting attorney whose primary responsibilities are to prosecute criminal cases on behalf of public law enforcement agencies.

7. A borrower who has served as a Peace Corp or Americorp Vista volunteer may have up to 70% of their loan cancelled.

8. A borrower that has served a period of full time active duty in the armed forces, the National Guard, or the Reserves may have up to 50% of their loan cancelled. The service must be in an area of hostilities or an area of imminent danger that qualifies for special pay under Section 310 of Title 37 of the U.S. Code.

Specific Information – Deferment

1. In order to be granted a deferment of repayment, the borrower must submit the proper deferment request form, along with other documentation required by Yale University, immediately upon the onset of any condition that qualifies your loan for a deferment. A borrower may lose deferment benefits if the Student Loan Billing and Payment Office does not receive the proper forms on a timely basis.

2. The deferment form can be used for all loans serviced by Yale University’s Student Loan Billing and Payment office.

3. Payments are not required during a deferment period.

4. If you do not qualify for a deferment based on the regulations stated in your promissory note, you may qualify for forbearance.

5. You may request a Deferment form by clicking here, writing to the Student Loan Billing and Payment Office (address), or email at slac@yale.edu.

Specific Information – Economic Hardship/Forbearance

1. In order to be granted an economic hardship or forbearance for the repayment of your loan(s), the borrower must submit the proper forms along with other documentation required by Yale University’s Student Loan Billing and Payment Office immediately upon the onset of any condition that qualifies your loan for forbearance. A borrower may lose this benefit if the Student Loan Billing and Payment Office does not receive the proper forms on a timely basis.

2. Interest continues to accrue during any period of forbearance.

3. Economic Hardship/Forbearances are granted at the discretion of the institution in periods of up to 12 months for periods that collectively do not exceed three years.

4. Payments of “Interest only” may be required.

5. You may obtain an Economic Hardship/Forbearance form by clicking here, writing to the Student Loan Billing and Payment Office (address), or email at slac@yale.edu.

Please email your comments or suggestions regarding the information on the Student Loan website to: slac@yale.edu.

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