Credit Reporting

We report the status of all outstanding loans to the Equifax Credit Service each month. The credit rating you earn with this loan will help determine your ability to make major credit purchases in the future.

Current Account Billing

Due date:

Your monthly payment is always due on the 15th of the month. Return the top portion of your statement with a check. Please remember to write your account number on your check.

Due Diligence:

Monthly statements are mailed to all borrowers in repayment on the 22nd day of the month, with payments being due on the 15th day of the following month.

Third Party Billing

If you participate in a third party billing program for tuition, fees, and/or books and if the third party will be making payment directly to the University of West Georgia, you should contact the Student Accounts Office prior to the fee payment deadline for the Semester in which you will be attending.

We currently bill the following agencies:

• Department of Human Resources for Vocational Rehabilitation
• Veteran’s Administration
• ROTC
• AT&T
• Fortis
• Department of the Army
• Independent Living Program
• Intercall
• Ford Motor Company
• General Motors
• Georgia Association for Young Children
• Trade Adjustment Assistance
• United Auto Workers
• Prepaid Affordable College Tuition
• Florida Prepaid College Fund

Past Due Accounts

An account is considered past due after the drop-add period in the semester. A hold is placed on all past due accounts which will prohibit the student from registering for any future semesters or from obtaining an official transcript from the University until the account is paid in full.

All past due accounts are subject to possible administrative drop and/or referral to an outside Collection Agency for collection. If an account is referred to an outside agency, the student is responsible for paying the cost of collection to the collection agency, and the account is reported to a national credit bureau.

Acceleration

For seriously past due accounts we invoke the Acceleration Clause of the Promissory Note. At this time the entire principle, interest, and accumulated late charges are due in full.

Defaulted Loans

Legally, a past due loan is in default. Department of Education regulations state that a Perkins Loan is in default when it is 240 days past due.

What it means:

A defaulted loan can remain on your credit report for up to seven (7) years after you cure the default.

How it effects you:

A defaulted loan can prevent you from receiving financial aid at this or other institutions. Your academic records may be flagged, preventing you from attending this or any other school. You may be refused the necessary credit to purchase an appliance, automobile, or home. You may even be denied an apartment lease.

Collection Agencies

This office refers delinquent accounts to two collection agencies, Coast Professional, Inc., and Williams & Fudge, Inc., on a regular basis. When an account has been referred for outside collection, the borrower must make repayment arrangements with the agency and, as detailed in the Promissory Note, is responsible for the additional collection charges at the rate of 33.3% for a first-time referral.

• Our Williams & Fudge, Inc. (W&F) representative may be contacted at: 1-800-849-9791
• Our Coast Professional, Inc. (Coast) representative may be contacted at: 1-888-740-6050