University Loans, Receivables and Collections

Idaho State University is the agent for several loans available to students. The University Receivables and Loans Office administers these loans. These include the Federal Perkins Loan, which is part of the Title IV Federal Financial Aid Program, as well as non-federal, campus-based loans sponsored by alumni and others. The non-federal loans include student installment loans and short-term educational loans, both of which are due and payable during the term in which they are granted.

The University Receivables and Loans office is responsible for Federal Perkins Loans, as well as awarding, disbursing, billing and collection of campus-based installment loans and short-term loans.

These loans are the responsibility of the student, not the student's parent. Because of the Family Educational Rights and Privacy Act (FERPA), questions concerning these loans must come from the student. The office cannot answer questions from a parent concerning their child's loan account without the student's express written permission.

The collections area of the office is responsible for collecting delinquent University receivables utilizing due diligence procedures, litigation and collection agency referrals.

Perkins Loans

A Perkins Loan is one of the Title IV Federal Financial Aid programs. This loan is awarded annually based on information supplied by you for the current year as you filed your FAFSA information. Eligibility for Perkins Loans is determined by the Office of Student Financial Aid, which also provides documentation on how to apply for these loans. The Financial Aid Office approves the awards based on need and timely submission of your FAFSA. These funds are disbursed through the financial aid disbursement process and managed by the University Receivables and Loans Office.

Installment Loans

The installment loan can be used to pay tuition, class fees, insurance, housing meals and rent, and computer user accounts.

Short-Term Loans

The Short-Term loan program is funded by Friends of Idaho State University. It is limited to loans for books and educational expenses. The maximum amount of each loan is $500. The loans are issued for up to 90 days. They must be repaid upon receipt of financial aid, 90 days after issue, or the last day of the semester, whichever arrives first. Your ISU internal credit rating will be reviewed prior to loan approval. Failure to pay this loan as agreed will adversely affect this credit rating. A $15 fee will be assessed on the first of each month until loan is paid in full. This fee is in lieu of interest.

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