Student Debt
Important information to know before taking on debt
There are many things to consider before assuming any new debt and student debt is no different. If you're a first-time borrower, you'll want to be aware of the following information.
Consequences of Default
The full loan balance will be due immediately.
- Holds are placed on the student's university record which will prevent access to transcripts and future enrollment
- The borrower will lose the right to forbearance, deferment, and cancellation benefits
- The default status of the loan will be reported to credit bureau organizations
- The borrower will lose the right to receive additional federal Title IV financial aid at all institutions that participate in the Federal Student Aid program
- The loan may be assigned to a professional collection agency and all costs associated will be assessed to the borrower and added to the balance when placed with the agency
- The loan may be assigned to the United States Department of Education
If you are unable to make your scheduled monthly payments for any reason, contact Heartland ECSI at 1-888-549-3274 as soon as possible.
Delinquent Tuition Collections
Delinquent tuition accounts for prior semesters are referred to Student Debt Management. This is in addition to the monthly 1% service and late payment charge subject to all past-due accounts. If your account is referred to a third-party agency, you must pay any collection costs and attorney fees allowed by the Uniform Consumer Credit Code.
Late Payment Charges: Past-due charges are assessed as once-per-term late charges, as well as monthly service charges on past-due balances. The late charge amount is based on the past-due balance. Please see the table below. The 1% service charge is 1% of the past-due balance and is assessed every month a balance remains outstanding.
Contact Student Debt Management at 303-315-1800 option 6 or collections@ucdenver.edu.
Late Payment Charge Table:
| Balance Due | Late Charge |
|---|---|
| $1.00 - $99.99 | $5.00 |
| $100.00 - $299.99 | $10.00 |
| $300.00 - $499.99 | $20.00 |
| $500.00 - $699.99 | $30.00 |
| $700.00 - $899.99 | $40.00 |
| $900.00 - and over | $50.00 |
Billing FAQ: I need to order a transcript, but I owe a past-due balance.
In compliance with Colorado House Bill 22-1049, you can complete a Transcript Hold Appeal Form to request CU Denver to review your circumstances for the release of your transcript.
Stops on Your Records/Registration
You will have a financial stop on your records if you owe the university an outstanding debt. The debt must be paid in full for the stop to be removed. Financial stops will hold transcripts, diplomas, registration, and drop/add. The debt could be due to outstanding tuition, fees, returned checks, short-term loans, or federal loans.
- All students who register for classes at the University of Colorado | Anschutz Medical Campus are held responsible for payment as described in the Tuition and Fee Agreement Disclosure. Students accept the terms of this agreement during the registration process in their UCD Access student portal.
Current and former students can pay their bills online with a checking or savings account by logging in to your UCD Access student portal.
Delinquent Accounts
The university will refer accounts to contracted third-party collection agencies. Please, contact Student Debt Management to determine which agency is responsible for your account. If your account has been referred to a collection agency, the following actions will be taken:
1. No transcripts will be issued until the bill is paid in full
2. Service charges of 1% per month will continue to be assessed
3. Your account will be reported to the credit bureau
4. Your tax returns may be subject to offset to pay the debt
Payment Plans for Delinquent Accounts:
The University of Colorado Denver | Anschutz Medical campus has partnered with Flywire to make paying your past-due account easier. When an account is referred to the Student Debt Management area, a student now has the option of accepting one of our extended payment plans through our new student debt portal: https://ucdenver.myflywire.com/login
These payment plans are structured based on the amount outstanding and allow you to bypass speaking to one of our onsite collectors. Your payment plan will be available on our new student debt portal by the census date following the last
semester you attended. If you would like to contact our office to set up a payment plan early, please call 303-315-1800 and the office of the Bursar will get you to one of our plan specialists to assist you.
If none of the payment options on our new student debt portal work for you, we have account specialists who can speak to you about additional options. Once a payment plan is established, no additional interest or late charges will
be assessed on your student account.
Please note that there is a one-time $30.00 nonrefundable charge to establish all past-due payment plans through your: student debt portal. For a more detailed explanation of the terms of your payment plan, please click here.
Accessing your FLYWIRE account online:
- Go to the direct login link at https://ucdenver.myflywire.com/login
- Click on “Create New Account”, if haven't done already
- On the next page answer “Yes” to the question “Are you a current or former student”, (for students)
- Create login credential on the next page
- Verify your email account (the system will send a verification link).
- Login again with your credentials
- The system will ask you to enter your Student Account ID and DOB to connect the direct login with the UCDenver payer account @ Flywire Education System
Note: you can only access the "MyFLYWIRE" account if you work directly with the Student Debt Management office.
Questions?
Please call the Bursar's office at 303-315-1800 or email the Bursar's Office. They will direct you to the correct person to discuss your account.
Entrance and Exit Counseling
Welcome to the University of Colorado Denver Entrance and Exit Counseling Sessions for the Federal Perkins program, Federal Health Profession Loan programs, and all Institutional Loan programs. A loan is a very significant responsibility to assume. Before accepting the loan, you are required to complete an entrance counseling session. When you graduate or drop below half-time, you are required to complete an exit counseling session. The loans processed by Student Debt Management are campus-based funds and do not include Stafford Loans, Direct Loans, or PLUS Loans.
A loan is money borrowed and you must repay your loans, even if you:
- Do not complete your education
- Are not employed upon completion of your studies
- Feel that the education you received did not meet your expectations
Generally, student loans may not be canceled or discharged due to bankruptcy. If you drop below half-time enrollment, even if you plan to return in the future, you will need to complete an exit counseling session. Once your grace period expires, you will have to repay your loan. You may prepay all or part of your loan, at any time, without penalty. Prepayment may substantially reduce your interest costs. If you cannot make a payment once your grace period has expired, you may apply to determine eligibility for deferment. A deferment is a period during which your regular payments are temporarily suspended. No principal or interest is accrued during most deferments.
You may download all forms by clicking this link and choosing the "Downloadable Forms" link from ecsi.net.
The school or billing servicer will determine your eligibility for deferment. Continue making your payments until you receive written notification that you no longer need to do so.
Many loans only offer a hardship or forbearance option. This is a period during which your loan payments are temporarily reduced or suspended. You may request a hardship or forbearance if you are willing but financially unable to make your full payment. You are responsible for the interest that accrues during the hardship or forbearance period. You may pay the interest as it accrues, or the entire amount at the end of the hardship or forbearance period. Whether you are eligible for a hardship or forbearance depends on the loan type.
Notify Student Debt Management immediately if you anticipate difficulty making a payment. Failure to pay all or part of a payment when due may result in the assessment of late charges. Your billing servicer may report your past-due status to the national credit bureaus and may initiate collection actions against you if you fail to make full, timely payments. The university may impose late charges if you do not make a scheduled payment when due or fail to submit properly documented forbearance, deferment, or cancellation requests to the university on or before the due date.
Defaulting on your student loan may result in:
- Damage to your credit rating
- Referral of your account to a collection agency
- Collection costs
- Garnishment of your wages
- Withholding of your state tax refunds
- Civil lawsuit, including court costs and legal expenses
- Loss of deferment entitlements and flexible repayment options
- Loss of eligibility for further financial aid
- Suspension of your professional license
You will need to click on the Entrance or Exit Counseling button to complete the appropriate counseling:
Loan Consolidation
Loan consolidation enables a borrower with federal student loans from different lenders to obtain one loan with one interest rate and repayment schedule. Consolidation loans are intended for those who need greater repayment flexibility.
The following loan programs may be consolidated:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Subsidized Federal Stafford Loans
- Unsubsidized Federal Stafford Loans
- Direct Plus Loans
- PLUS loans from the Federal Family Education Loan (FFEL) Program
- Supplemental Loans for Students (SLS)
- Federal Perkins Loans
- Federal Nursing Loans
- Health Education Assistance Loans
- some existing consolidation loans
Advantages of Loan Consolidation:
- Extended repayment period up to 30 years
- Lower monthly payment amount
- Convenient single monthly payment
- May help protect your credit rating
Disadvantages of Loan Consolidation
- Extended repayment period adds to the total interest expense
- Interest rates may be higher than the rate of the original loan
- Federal Perkins Loan borrowers may lose eligibility to cancel their debt for full-time employment in certain occupations; refer to your original promissory note for more information on your cancellation benefits.
Eligibility for Loan Consolidation
- Must be in the grace period or repayment status on all loans being consolidated
- Must not have another consolidation loan application pending
Please see more information on Federal Student Aid Loan Consolidation.
Perkins Loan Cancellation
Cancellation for Years of Service
If the borrower is employed in one of the eligible areas, up to 100% of the loan may be canceled. Most loans are canceled incrementally:
- 15% canceled per year for the first and second years of service
- 20% canceled per year for the third and fourth years of service
- 30% canceled for the fifth year of service
If you have questions, contact Heartland ECSI at 1-888-549-3274.
Perkins Loan Rehabilitation
If you default on your Federal Perkins Loan, you may rehabilitate your defaulted loan by:
- Requesting a rehabilitation
- Making nine consecutive, on-time monthly payments
- Please note, that you may only complete rehabilitation one time over the life of your loan
The advantages of successful loan rehabilitation:
- You will qualify for the benefits and privileges of your original promissory note (i.e. deferment, forbearance, cancellation benefits)
- The default will be removed from your credit history
- You will have an additional nine years to repay the remaining balance in full
If you are interested in loan rehabilitation, please, contact Heartland ECSI at 1-888-549-3274.