Loan Repayment

You are obligated to repay the principal and the interest that accrues on your loan beginning 9 months after the date you cease to be enrolled at least half-time. Your loan will be repaid over a period of up to 10 years. You will be sent a bill approximately 30 days before each payment is due.

Entitlements

Forbearance- Upon receipt of a written request, Fontbonne University will grant a forbearance of principal only, for a period not to exceed three years (36 months)

Student Deferment- A borrower is eligible for a student deferment if they are enrolled for at least six credit hours at any accredited instituition. In order for the deferement to be applied, the borrower must complete a deferment form at the begining of every semester Click Here

Unemployment Deferment-Any borrower unable to find full-time employment may apply for an Unemployment Deferment. In order to qualify, supporting documentation must be supplied to the school. The deferment cannot exceed three years (36 months) Click here

Economic Hardship Deferment-Any borrower suffering an economic hardship can apply for a deferment. The deferment is limited to three years (36 months) and the interest accrues while in deferment Click here

Consolidations

You may consolidate your Federal Perkins Loan and your Stafford Loans upon graduation or withdrawal from Fontbonne University. Please note that entitlement and cancellation benefits for the Federal Perkins Loan are eliminated if you choose to consolidate your Federal Perkins Loan.

If you have completed any consolidation applications prior to July 1, 2006 and would like to include your Federal Perkins Loan but are in an in-school status, you must complete Request for Early Repayment.

Rehabilitation

If you default on your Perkins Loan, you may attempt to rehabilitate your defaulted loan by requesting the rehabilitation by making 12 consecutive, on time monthly payments.

After rehabilitating a defaulted loan and returning to regular repayment status, a borrower regains the benefits and privileges of the promissory note, including deferment and cancellation.

To request rehabilitaion, send a letter of request to the following:
Perkins Loan
c/o Carrie Slama
6800 Wydown Blvd.
Saint Louis, MO 63105

Cancellation

Certain services may be eligible for partial or full cancellation of your Federal Perkins Loans. In order to receive these benefits, it is your responsibility to submit a properly completed Request for Cancellation form every year. Listed below is a brief summary of services which may be eligible for cancellation: Click here.

TEACHING: If you are a full-time teacher at a school which is determined by the government to be a low-income school or if you teach special needs classes, you may be eligible for deferment. For information on qualifying schools, please Click here.

MILITARY SERVICE: If you are enrolled in the military and are serving in an area of hostility, you may be eligible for a partial cancellation.

LAW ENFORCEMENT: If you are in law enforcement and your primary duties pertain to crime pervention, control, or reduction to the enforcement of criminal law, you may be eligible for cancellation.

Read more cancellation information online.

Fontbonne Contact

For any other information or if you have any questions, please contact Carrie Slama at 314-889-1476 or e-mail at cslama@fontbonne.edu.

ACS Contact

ACS is the servicing agent for Federal Perkins Loans and Fontbonne Student Loans. You can also go to ACS website to update your address or make a payment.

-Please mail payments, deferment forms, cancellation forms and forbearance forms to :
ACS
2505 South Finley Rd. Ste. 100
Lombard, IL 30148-4897

Exit Counseling

Before you graduate (or if you drop below half-time attendance), regulations require that you complete an exit counseling session. The counseling session helps guide you in managing your student loans after college. This session provides you with essential information regarding repayment of all Federal Perkins Loans.

You may also complete your exit counseling online.

To complete your exit counseling in person, please contact Carrie Slama at 314-889-1476 to set up an appointment.