Loan Repayment & Counseling
Loan terms will determine when you will need to begin repayment of student loans. Most student loans require repayment to begin six months after graduation or dropping below half-time enrollment.
Helpful information about student loan payments, repayment plans and calculators, and risks associated with defaulting on student loan repayment can be found through the Department of Education.
Access your student loan history through the National Student Loan Data System (NSLDS).
Entrance counseling is required before funds can be disbursed for any student who is receiving federal student loans for the first time. Go to the Federal Student Aid website to complete Entrance Counseling. Entrance counseling provides the following:
- The effect of the loan on the eligibility of the borrower for other forms of aid
- An explanation of the use of the Master Promissory Note
- The seriousness and importance of the students’ repayment obligation
- Information on the accrual and capitalization of interest
- Borrowers of unsubsidized loans have the option of paying interest while in school
- Definition of half-time enrollment and the consequences of not maintaining half-time enrollment
- Importance of contacting appropriate offices if the student withdraws prior to completion of the program of study
- Sample monthly payment amounts
- The obligation of the borrower to repay the full amount of the loan regardless of whether the borrower completes the program or completes within regular time for completion, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services the borrower purchased from the school
- Consequences of default
- Information about the NSLDS and how the borrower can access the borrower’s records
Students may contact the University’s financial aid office with questions about the student’s rights and responsibilities as a borrower and the terms and conditions of loans:
John Patrick University of Health and Applied Sciences
Financial Aid Office
All students who receive Federal Direct Loans must complete exit counseling shortly before the program of study is completed or they are enrolled at a less than half-time status. Exit counseling provides information on:
- Average anticipated monthly repayment amount
- Repayment plan options
- Options to prepay or pay on a shorter schedule
- Debt management strategies
- Use of the Master Promissory Note
- The seriousness and importance of the student’s repayment obligation
- Terms and conditions for forgiveness or cancellation
- Copy of information provided by the U.S. Department of Education
- Terms and conditions for deferment and forbearance
- Consequences of default
- Options and consequences of loan consolidation
- Tax benefits available to borrowers
- The obligation of the borrower to repay the full amount of the loan regardless of whether the borrower completes the program of study or completes within the regular time for completion, is unable to obtain employment upon completion, or is otherwise dissatisfied with or did not receive the educational or other services the borrower purchased from the school
- Availability of the Student Loan Ombudsman’s office
- Information about NSLDS. The U.S. Department of Education is required to provide a disclosure form for students and prospective students about NSLDS.
Students who do not adhere to the terms of the Master Promissory Note will default on student loans. The government can apply sanctions for defaulting such as:
- Wages and tax return funds may be withheld and applied to student loan balances
- Eligibility for future student loans will be affected
- Consumer loans may be denied
- Reduced credit score
- Potential loss of job opportunities
- Inability to obtain a professional license
Helpful information can be found through the Department of Education.
Financing your education through the use of federal aid programs or private student loans is a privilege. JPU makes every effort for you to understand that accepting loans to finance your education includes the responsibility to pay back those loans. JPU makes every effort to inform you of information that will help you understand your obligation as well as resources designed to help you maintain good communication with your loan servicers and maintain good standing with your repayment obligations. To that end, students who begin to default on their student loans will be contacted by JPU through available means of communication in an attempt to cooperate with lenders and collect information that may be useful to lenders in seeking payment.
John Patrick University of Health and Applied Sciences Default Rates
The final most recent default rate is 2.7% (1 out of 37) from 2019.