Office of Financial Aid
Repayment, Default and 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:
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 (484) 365-7412 or email gress@lincoln.edu
Helpful Websites:
Providing debt awareness for all student loan borrowers: www.youcandealwithit.com
Help for borrowers currently in Default. Help is
only a click away: www.studentloans.gov
Repayment Calculator: www.studentloans.gov
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: www.studentloans.gov
If you have any further questions, please contact
the Office at Financial Aid at financialaid@lincoln.edu.
Lincoln
University of the Commonwealth of Pennsylvania
1570 Baltimore Pike, P.O. Box 179, Lincoln University, PA 19352 \
484-365-8000
