> ## Documentation Index
> Fetch the complete documentation index at: https://faq.universalaccountservicing.com/llms.txt
> Use this file to discover all available pages before exploring further.
# Student loans
> How a private education loan serviced by UAS works, what in-school payments mean, and what repayment options are and are not available.
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](https://studentaid.gov) can help with those.
## 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:
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.
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.
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.
## 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 $10,000 loan
at 10% over 48 months — the in-school plan totals about **$12,524\*\* against about \*\*$12,174** 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.
## 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](/signing-in/co-applicant-access).
## 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](/your-information/changing-your-information).
## What you signed
Private education loans come with more disclosures than other credit agreements, because federal law
requires them. Your packet contains, in order:
| Document | What it is for |
| ------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------- |
| **Application and Solicitation Disclosure** | Your rate and fees, alongside current federal loan rates so you can compare |
| **Applicant Self-Certification** | A federally required form, obtained from your school's financial aid office, confirming your cost of attendance and other aid |
| **Notice to Cosigner** | If someone signed with you |
| **Retail Installment Contract** | Your actual agreement — terms, rate, schedule |
| **Approval Disclosure** | Your approved terms, and how long you have to accept them |
| **Final Disclosure** | Issued after you accept, carrying your right to cancel |
You can view your own copies in uPortal360 under
[Agreement Details](/statements/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.