Repayment Questions

Questions And Answers

What are the standard repayment terms?

Repayment term is 20 years if your principal balance at repayment is $40,000 or less, and 25 years if your principal balance at repayment is more than $40,000.

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How does the 0.25% automatic electronic payment discount work?

Your credit union may elect to provide an interest rate reduction of 0.25% if you elect to make automatic electronic payments when your loan is in full repayment during the Repayment Period or during the Draw Period. If your loan is in deferment or you are making interest-only payments, the rate discount will not apply. For more information, please click here to find your credit union lender, then visit the credit union’s Student Choice website to learn more. If your line of credit is subject to a floor rate (also known as a minimum interest rate) as specified in your promissory note, your rate will never be less than the floor rate.

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What is the graduated repayment option?

Once you complete school, you will be allowed to choose standard repayment over 20 or 25 years (depending on loan balance) or our graduated repayment for two years. The graduated repayment option amortizes the first 2 years over a 40 year period and then over either 18 or 23 years for the remainder of the loan. This means monthly loan payments will be lower in the first two years after starting repayment - which may benefit individuals who are just beginning new careers and managing tight budgets.

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What other repayment options are available?

Students may choose full deferment while in school, elect to make interest only payments while in school, or choose full principal and interest payments.

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Is there a penalty for paying the loan off early?

No. You can pay off your Credit Union Student Choice line-of-credit at any time, even if you're still in school.

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Where can I access information about my loan and how do I make loan payments?

You can access your loan information online and make payments by visiting the website of University Accounting Service (UAS), our student loan servicing partner. Click here for more information!

You may also contact UAS Customer Service by calling 800-723-2210.

For loan payments sent via mail, please send to:
University Accounting Service, LLC
P.O. Box 3167
Milwaukee, WI 53201-3167

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What are my repayment options?

You may choose to make interest-only payments while in-school, defer both principal and interest payments until six-months after graduation, or make full payments while in school.

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I want to change my repayment option while I am still enrolled in school. How can I make that change happen?

To change your repayment option, please contact the loan servicer, University Accounting Service (UAS), directly at 800-723-2210. Changes to repayment options can only be made once per academic year.

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How do I make loan payments?

  • To make payments online, register at the UAS website
  • To make payments by mail:
    • University Accounting Service, LLC., P.O. Box 3167, Milwaukee, WI 53201-3167

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How can I set up automatic debit for my loan payments?

To establish automatic debit for your student loan payments, please contact the loan servicer, University Accounting Service (UAS), at 800-723-2210.

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What happens if I am late making a payment?

The lender will assess a late fee if your payment is not made timely. You can pay your bill safely and securely online through the loan servicer's website.

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What should I do if I am unable to make my regularly scheduled payment?

Payments are due in accordance with your repayment schedule. If you are unable to make a scheduled payment, you must contact the loan servicer (University Accounting Service – 800-723-2210) before the payment due date to determine if alternate arrangements can be made.

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I need to update my contact information. How can I do that?

Contact the loan servicer (University Accounting Service) by calling 800-723-2210 or visiting them online. Also, please call the Student Choice call center to provide your updated information.

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What is my interest rate?

Register at the UAS website to access line-of-credit information online or call University Accounting Service at 800-723-2210.

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What will my payment be?

Register at the UAS website to access line-of-credit information online or call University Accounting Service at 800-723-2210.

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I have questions about my (UAS) statement. Who do I contact?

Call University Accounting Service at 800-723-2210.

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