Family Assistance Loan |
Federal Perkins Loan |
Summer Studies Loan
A 0% interest loan for undergraduate students to pay towards summer term tuition and other expenses. Borrowers will not be charged interest unless they have one late payment which increases the interest to 7%. Students can borrower up to $5,000. The Summer Studies Loan program has a 6 month grace period so that borrowers begin repayment on the first day of the seventh month upon graduating, falling below half-time status or withdrawing from the university. Once the loan enters repayment, the borrower will have 3 years (36 months) to pay off the loan. This loan does not have any deferment benefits.
For more information, please visit www.smu.edu/summer or contact 214-768-3417 and ask to speak to your Financial Aid Advisor or Loan Specialist.
Exit Counseling
SMU requires exit counseling to Summer Studies loan borrowers who are graduating, withdrawing from the university, or dropping below half-time enrollment. Exit counseling covers:
- Borrower's rights and responsibilities
- Loan repayment
- Consequences of default
During exit counseling, borrowers are also required to provide updated personal information, such as address, telephone number, and employment.
Schools must keep documentation that shows that the borrower received the required exit counseling, either electronically, in person or by mail.
If a borrower withdraws from school without the school’s knowledge, or if a borrower fails to attend a scheduled exit counseling session, the school must mail written exit counseling materials to the borrower at his or her last known address.
To complete exit interview for the Summer Studies loan, please visit www.uasexit.com.
NOTE: There will be a hold on all educational records (i.e. diploma, transcript, etc) until the exit interview is completed.
For questions or concerns about any of the information listed on this webpage, please contact the Assistant Director of Perkins & Institutional Loans at:
Phone: 214-768-3417
Email: enrol_serv@mail.smu.edu
Fax: 214-768-4789
Mail:
Division of Enrollment Services
Southern Methodist University
P.O. Box 750181
Dallas, TX 75275-0181
All loans are billed on the first of each month. For questions or concerns about billing, please contact University Accounting Service at:
Website: www.uaservice.com
Phone: 1-800-999-6227
Email: loaninfo@uaservice.com
Fax: 262-784-9014
Mail:
University Accounting Service
P.O. Box 932
Brookfield, WI 53008
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