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If your account is a private education loan — sometimes called a student gap loan — this page covers how it works and what options exist.
This is not a federal student loan, and it is not structured like one.Your agreement is a Retail Installment Contract. The deferment, forbearance, income-driven repayment and forgiveness programs that come with federal student loans do not apply to it, because those attach to federal loans and to promissory notes — not to this kind of contract.If you also hold federal loans, those are separate and keep their own protections. Your school’s financial aid office or federalstudentaid.ed.gov can help with those.

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What repayment options exist

Notice to student loan borrowers regarding alternative repayment arrangements Your private student loan provider does not provide alternative repayment or hardship arrangements for retail installment contracts. As the third-party student loan servicer, UAS does not provide alternative repayment options or hardship arrangements unless directed to by your private student loan provider. So there are two routes, and the order matters:
1

Contact your loan provider first

They own the decision. UAS services the account but cannot change your terms without their instruction.Your provider is named on your agreement, and on the Approval and Final disclosures in your signing packet.
2

Then contact us

Once your provider has agreed to something, we put it into effect. If you are not sure who your provider is, or you cannot reach them, call us and we will tell you.

Contact us

We can confirm who holds your loan and what is on your account.
If you are struggling to pay, contact your provider before you miss a payment. Options are narrower once an account is past due.

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In-school payments

Some of these loans have a reduced payment while you are enrolled, then a full payment after you finish. For example, a plan might be 8 in-school payments of $50, then 40 regular monthly payments. Your own schedule is on your agreement.
In-school payments are not a deferment, and they are not interest-only. Interest is being charged during that period.If your in-school payment is more than the interest owed that month, the extra goes to your principal. If it is less, the shortfall is not added to your principal — interest keeps accruing on what you owe.
Interest on these loans is simple interest, not compounded. Paying less early costs more overall. On the example in the disclosure packet — a 10,000loanat1010,000 loan at 10% over 48 months — the in-school plan totals about **12,524** against about **12,174∗∗forequalmonthlypaymentsthroughout.Roughly12,174** for equal monthly payments throughout. Roughly 350 more, for a lower payment while enrolled. If you can afford the full payment while you are in school, you will pay less in total. If you cannot, the in-school option exists for that reason.

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If you are a cosigner

You are responsible for the debt. Your signing packet contains the required Notice to Cosigner, which says it directly:
You are being asked to guarantee this debt. Think carefully before you do. If the borrower doesn’t pay the debt, you will have to. Be sure you can afford to pay if you have to, and that you want to accept this responsibility. You may have to pay up to the full amount of the debt if the borrower does not pay. You may also have to pay late fees or collection costs.
For account access, see Co-applicant and cosigner access.

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Telling us if you move or change your name

For these loans this is a term of your contract, not a courtesy. If you change your name or your principal residence, you must tell us in writing within 30 calendar days. See Changing your personal information.

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What you signed

Private education loans come with more disclosures than other credit agreements, because federal law requires them. Your packet contains, in order: You can view your own copies in uPortal360 under Agreement Details and View Documents.
Two rights in that sequence are easy to miss.Your approved terms are held open for 30 days, and they will not change during that period. Accepting straight away waives that window — the Approval Disclosure says so on its face.After you accept, the Final Disclosure gives you a right to cancel without penalty up to a date printed on it. No money goes to you or your school before then. Canceling is done by phone.