Loan Repayment Info

This is a general information page concerning repayment of loans, benefits and responsibilities for borrowers of Perkins, Nursing, and Goshen College Loans. For information regarding the Federal Direct Student Loans, contact the Financial Aid Office at (574) 535-7525.


Exit Interviews

Any student who graduates, withdraws, or drops below six hours of enrollment, and has a Perkins, Nursing or Goshen College loan, is required to complete an exit interview. The purpose is to provide you with information concerning your rights and responsibilities, and includes details about repayment, late fees, collection fees and default. Exit interviews are completed online at You cannot complete the exit until the school has been notified of your student status. Exit interviews must be completed before transcripts can be released.


University Accounting Service (UAS) is the billing service for these loans. You will get a statement approximately the first week of the month before your payment is due on the first of the next month.


These loans are billed quarterly. Payments are due by the 1st of the month.


These loans are billed monthly. Payments are due by the 1st of each month.

You may pay your loans early without penalty. Any payment made during the grace period will apply to the principal. After the grace period the payments are applied in this way (should any or all apply): collection costs, late fees, interest and lastly, principal.

Paying ahead reduces the principal and shortens the repayment period at the end. An early payment will not apply to the next payment due unless that is clearly indicated with the payment.

Grace Periods

These loans have a nine-month grace period.


These loans have no grace period. Interest and repayment begin the month after leaving Goshen College.


Granted according to the promissory note, including student deferment, economic hardship, forbearance and unemployment.


Student deferment only when continuing with studies in a related field.


There are no deferment benefits for this loan.

Cancellations for Perkins Only

Your promissory note contains information regarding cancellation. Some of the more common cancellations are teaching in low income schools, teaching handicapped children, Headstart, early intervention, working with at-risk children or youth. You must be employed full time. The loan is canceled by a percentage for each year you qualify. The Perkins loan can be canceled in full over a five-year period.

Nursing/Med techs: Perkins loan can be cancelled according to your promissory note.

Your Responsibilities:

  • Make payments on time.
  • Notify UAS and GC of name and address changes promptly.
  • File deferment, cancellation, or other forms before payment due dates.
  • Notify UAS and GC before payment is due if you will be late making a payment.

GC Responsibilities:

  • Report loan status to the credit bureau monthly.
  • Assess late fees.
  • Accelerate the loan (require you to pay entire loan immediately).
  • Place loan with a collection agency and charge collection costs to you.
  • Litigate.
  • Assign your loan to the Department of Education or Health and Human Services.

Address Information:

Make check payable to GOSHEN COLLEGE
Send to: University Accounting Service
Attn: Payment Processing Dept
PO Box 932
Brookfield WI 53008-0932

Goshen College contact:
Sandra Saggars
Associate Controller
1700 S Main St
Goshen IN 46526

Telephone: (574) 535-7511

Correspondence and Forms:
University Accounting Service
PO Box 932
Brookfield WI 53008-0932

Telephone: (800) 999-6227

Website information: for general information, download/print forms, deferments, etc.
for exit interviews. Internet Explorer is the preferred browser.