Skip to main content

HARDSHIP OPTIONS

What to do if you are unable to make your student loan payments for your campus based loan.


UNABLE TO RE-PAY YOUR CAMPUS BASED LOAN?

If you are unable to meet your payments, you will need to contact Heartland ECSI for the following options: Deferment, forbearance, and cancellation.

In order to be eligible for any of these options, your account must be in good standing.


DEFERMENT

is a period of time during repayment in which the borrower, upon meeting certain conditions, is not required to make payments of loan principal and sometimes interest. Deferment of your Perkins or campus-based loan may be granted if:

  • You are enrolled in school at least half time (note: school must be registered with the Department of Education)
  • You are in advanced professional training
  • Completing Medical or Pharmacy internship/residency/fellowship
  • You are going through periods of unemployment
  • You are going through economic hardship
  • You are a member of the armed forces or various public or private volunteer organizations (note: only applicable for Federal Perkins Loans)

To request a Deferment, you can reach out to Heartland ECSI or email exits@ucsd.edu.


FORBEARANCE

Is a period during repayment in which the borrower, upon meeting certain conditions and providing support documentation this allows to temporarily pause payments of the loan principal but interest continues to accrue. Maximum time is 36 months for the life of the loan. Forbearance of your Perkins or campus-based loans may be granted if you are experiencing difficulties due to one of these circumstances: 

  • Finances
  • Employment
  • Medical expenses

CANCELLATION

of your obligation to repay your Perkins loan may be granted if you are employed in:

  • Teaching
  • Early intervention services
  • Law enforcement or corrections
  • Nursing or medical technician position
  • Child or family services
  • Head Start
  • Military

All loans can be discharged for total and permanent disability and death.


CONSOLIDATION

combines all of your federal loans into one loan. You would only have this option with the Federal Perkins Loan.

  • Your interest rate will be fixed for the length of the loan.
  • You may include your Perkins loan, but once consolidated, you are no longer eligible for the cancellation options listed on your Perkins promissory note. And, under consolidation interest will accrue similar to an unsubsidized loan. To request a copy of your Perkins Loan promissory note, e-mail exits@ucsd.edu , or call (858) 822-4727.

Consolidation information for all borrowers is available at the Federal Student Aid websites .

For more specific information, read your promissory note(s), or contact your loan servicer. To find out who your Servicer is login to FSA .

QUESTIONS?

Feel free to e-mail us by clicking below or, give us a call at 858-822-4727 if you have additional questions.

E-MAIL US