The primary responsibilities of the Office of Student Loan Accounting and Check Disbursement are:
- Verification and disbursement of all Federal, Institutional and Private Financial aid funds.
- Verification and disbursement of all University funds.
- Maintenance of USC Student Accounts System.
- Disbursement of travel advances.
- Management of the student loan programs – Federal and Institutional.
CONTACT US:
Student Loan Accounting and Check Disbursement
Phone: (803) 777-8140
Fax: (803) 777-0038
Email: bursloan@mailbox.sc.edu
Mailing:
Student Loan Accounting, Office of the Bursar
University of South Carolina
Columbia, South Carolina 29208
The University of South Carolina participates in the Perkins, Nursing, Health Professional and Nurse Faculty Loan Programs. The Office of Student Loan Accounting is responsible for verifying financial aid awards, processing promissory notes, entrance loan counseling, and indebtedness statements each semester prior to disbursement for these programs. Instructions and selected forms can be found on our forms page.
The office is also responsible for processing repayment schedules and exit loan counseling for students no longer enrolled at the University. Record, registration, and diploma holds will be placed on students who do not complete the exit loan counseling and repayment schedule upon separation from the University.
Terms and Repayment
The student loan you received to help you with your education comes from a revolving fund. Your prompt payment of this loan will return monies to the fund, which can then be used by others for funding their education.
Federal Direct Loan Exit Counseling
Federal Direct Loans are not managed by Student Collections. If you are graduating or leaving school, you will need to complete your exit counseling HERE. For more information on Direct Loans and repayment, please visit http://www.nslds.ed.gov/nslds_SA/
Perkins/Nursing/Health Professions Exit Counseling
Once you graduate, withdraw, or drop below half-time enrollment, you are required to complete exit counseling to understand your rights and responsibilities and repayment terms. To complete the Online Exit Counseling, go to the www.mycampusloan.com.
Campus Partners
The University has contracted with Campus Partners to service Perkins, Nursing, Health Professions and Primary Care Loans. While the University will still remain your loan holder, Campus Partners will be responsible for sending you billing statements, receiving and processing your payments, reviewing and processing deferment and cancellation forms, and addressing all of your other customer service needs. Any email or correspondence you receive from Campus Partners is legitimate and you should respond accordingly. You may also access Campus Partners' website at www.mycampusloan.com, where you can obtain instructions on using Campus Partners' borrower services.
Inquiries regarding your loans may be directed to Campus Partners at (800) 334-8609 or at www.mycampusloan.com.
Contact information:
Borrower Services
(800) 334-8609
www.mycampusloan.com
Mail correspondence and forms to:
Campus Partners
PO Box 2901
Winston-Salem, North Carolina 27102-2901
Mail payments to:
Campus Partners
PO Box 2901
Winston-Salem, North Carolina 27102-2901
Defaulting on a Loan
Default occurs when a borrower becomes past due in making a payment on his or her loans. Maintaining a good credit history is an important responsibility of any borrower and you must develop a habit of meeting your payment schedule.
Remember, you must make payments on your loan even if you do not receive a bill or repayment notice. Billing statements are sent to you as a convenience, but you are obligated to make payments even if you do not receive any reminders. You may not receive a notice if your address or name has changed. You must keep Campus Partners and the University of South Carolina informed of any changes in your name, address and phone number.
If you fail to make loan payments on time or if you default on your loan, the consequences are serious:
- Your loan may be turned over to a collection agency and your loan will become due immediately.
- You will lose your deferment, cancellation, and forbearance options.
- You will not be eligible for further federal or institutional student financial aid.
- Your school academic transcripts will be withheld.
- Your loan will be reported as delinquent to credit bureaus, damaging your credit rating.
- Your total debt may be increased by late fees, additional interest, collections fees, court costs, attorney's fees and other costs.
- Your state individual tax refund may be claimed and applied towards your delinquent loan balance.
If you are facing a large amount of debt, you might be tempted to skip or postpone some of your student loan payments. Instead, you should immediately contact Campus Partners to discuss repayment plan options, and to find out whether you're eligible for a deferment or forbearance. They'll work with you to help you avoid the serious consequences of delinquency and default. However, remember that you must apply for and receive permission to get a deferment or other alternative arrangement.
If you do default, your loan will be accelerated (made fully due) and placed with one of our collection agencies. You would be responsible for paying all collection and/or legal fees incurred (up to 100% of the full amount owed). You will be contacted directly by the collection agency and all future contact regarding your account should be made directly to that collection agency. It is in your best interest to contact the agency as soon as possible to resolve the delinquency on your loan.
Williams & Fudge
300 Chatham Avenue
Rock Hill, South Carolina 29731
http://www.wfcorp.com/
Phone: (800) 849-9791
Fax: (803) 329-0797
Email: wf@wfcorp.com
Todd Bremer Lawson
PO Box 36788
Rock Hill, South Carolina 29732-0512
www.tbandl.com
Phone: (877) 427-6544
Fax: (803) 323-5211
E-Mail: contactus@tbandl.com
Setoff Debt Collection Act
The Setoff Debt Collection Act is designed to facilitate collection of debts owed by an individual to an agency of the State. Debtors to the University, which is a State Agency, with debts of $50.00 or greater and in arrears of ninety days or more will be reported to the SC Department of Revenue for potential set off against their SC individual income tax refunds. The Department of Revenue will place a hold on State income tax returns due debtors whose names have been submitted. The Department of Revenue will notify the taxpayer that the University has a claim against the income tax refund. The Department of Revenue will forward to the University the amount of the refund claimed less a $25 collection fee. The debtor must contact the University's Student Collections for additional information regarding his/her account. Student records will remain tagged until the financial obligation is satisfied.
The act gives the alleged debtor the right to file a written protest for the validity of the debt. The written protest must be submitted within 30 days from the date of notification of the University's claim and contain the information below:
- Your name
- Your Address
- Your Social Security number
- Type of Debt in dispute
- Detailed statement of all reasons you disagree with the debt amount or dispute that you owe the debt
The original written protest must be mailed to University of South Carolina. For complete information, please contact Student Collections at (803) 777-4077 or burscoll@mailbox.sc.edu.
The debtor waives their right to protest if he/she fails to file a written request within 30 days.
CONTACT US:
Student Collections
Phone: (803) 777-4077
Fax: (803) 777-8163
Email: burscoll@mailbox.sc.edu
Mailing:
Student Collections, Office of the Bursar
University of South Carolina
Columbia, South Carolina 29208