Repayment, Default & Debt Management

What you need to know…and were afraid to ask…

Lincoln University is committed to making sure that its students succeed throughout their college career and beyond. Therefore, default and debt management education is a must. Students must realize the importance of sensible borrowing of student loans and the use of credit cards. Debt Management education must start in your freshman year and extend through graduation. It is easy to borrow, but repayment can be difficult. Lincoln strives to educate students on the importance of finding scholarships to replace student loans.

Understanding and minimizing your indebtedness will benefit you after graduation.

Repayment of your student loan will ensure that future Lincoln University students will be afforded the same benefits of financial aid that you have.

Responsible borrowing will help you:

• Establish credit
• Secure future borrowing for homes, cars, and graduate school
• Obtain credit cards

Neglect of your student loan responsibility may cause:

• Negative credit report
• Wage garnishment
• Tax offset (seize of federal tax refund)
• Credit and Loan denial

These options are available to you at studentaid.gov:

• Deferments and Forbearance
• Consolidation
• Loan Forgiveness
• Alternative repayment options
• Default Rehabilitation

Borrowers Rights and Responsibilities:

You must notify your servicer if you change your address, telephone number, or name.

You must repay your student loans, even if you don't graduate, can't find a job after graduation, or aren't satisfied with your education.

If you had a Federal Perkins Loan, you must notify the Office of the Bursar at Lincoln University of your address change or other inquiries. Please call 855-287-4003 or email bursar@js-ayds.com

Helpful Websites:

• Providing debt awareness for all student loan borrowers: studentaid.gov loans
• Help for borrowers currently in Default. Help is only a click away: manage studentaid.gov
• Repayment Calculator: studentaid.gov calculator
• One stop site for students and parents with information on financial strategies, career options and college planning: www.mappingyourfuture.org
• Mange your student loan account by accessing your loan profile: studentaid.gov

If you have any further questions, please contact the Office at Financial Aid at financialaid@js-ayds.com.