Frequently Asked Questions

How do I change my address with Student Loan Accounts and Collections?

Email us your full name, MUID, new address, and telephone number. 

When is my first payment due?

• For Federal Perkins Loans and Nursing Loans, the grace period ends nine months after you cease to be a half-time student.
• For National Direct Student Loans, the grace period ends six months after you cease to be a half-time student.
• For health professions loans and loans to disadvantaged students, the grace period ends 12 months after you cease to be a full-time student.
• Past due Bursar accounts do not have a grace period. The first payment is due shortly after the account is transferred to the Office of Student Loan Accounts and Collections. You will receive a bill with the due date.
• For monthly billed accounts, the first payment is due one month after the grace period ends.
• For quarterly billed accounts, payment is due 3 months after the grace period ends. Most accounts are billed monthly.

How can I afford this amount each month?

For Federal loans where the borrower separated from Marquette University before May 2002, billings will be quarterly (every three months). For Federal loans where the borrower separated on or after May 2002, billings will be monthly. Marquette Institutional Loans are billed quarterly. Past due Bursar accounts are billed monthly, however, technically the whole amount is due in full and these accounts are not loans.

What should I do if I'm not employed when my first payment comes due?

Contact the Office of Student Loan Accounts and Collections. There are a number of options. For example: partial payment agreements, forbearance or hardship deferment.

Can I prepay on this loan?

Yes. There is no prepayment penalty. You will also save interest over the life of the loan. However, payment in excess of the amount due does not prepay toward the next quarterly or monthly payment. Extra payment is applied to your principal balance.

Where is my payment coupon book?

You will receive a computer generated statement approximately 30 days prior to each due date as long as we have your current address.

Can I consolidate this loan with my other loans?

The eligible loans for consolidation are listed in the consolidation section of this site. There are a number of companies which provide this service. The Office of Student Loan Accounts and Collections can provide you with information regarding consolidation providers.

Is the Stafford Loan serviced through Marquette University?

No. The Stafford Loan is serviced by federally contracted servicers. To find out who your federal loan servicer is, please visit NSLDS.

Is the William D. Ford Direct Loan serviced through Marquette University?

No. The William D. Ford Direct Loan is serviced by one or more of the U.S. Department of Education’s contracted servicers. You may have multiple Federal Lenders, and your Direct Loans may be serviced by a number of different vendors. Please visit NSLDS to view your loan servicer or servicers.

• Additional information

How can I defer payments if I go back to school?

Complete a deferment form. This form must be certified by the registrar of your current school, and returned to Marquette University Office of Student Loan Accounts and Collections.

Note: Past due Bursar accounts are not eligible for deferment. Deferments filed with our office only apply to loans serviced directly by Marquette University, and will not affect Stafford loans or loans with other schools. You must apply directly to these other organizations for student deferment.

What types of deferments or cancellations are available on my loans?

Please see the page for your corresponding loan type to view the deferment and cancellation options.

How long will it take to pay off this loan?

The maximum time is ten years, however, it depends how large your loan is and what the minimum repayment is for your loan. Loans which have been consolidated may be eligible for extended payment terms.

If my account is turned over to a collection agency or an attorney, do I have the opportunity to negotiate with Marquette University?

No. You must deal directly with the agency or attorney.