Student Loan Services
& Collections is responsible for the administration and
collection of educational loans at UCLA. The Department is
divided into two offices: the Loan Services Office on campus,
and the Collections Office located in the UCLA Wilshire Center
in Westwood.
Loan Services. The Loan Services office is primarily responsible for administering
long-term educational loans. These include campus-based Perkins
and Health Professions loans; non campus-based FFELP loans
such as Stafford, SLS, and PLUS loans; and some short-term
loans. Loans are administered either as paper transactions
or electronically via Electronic Fund Transfer (EFT). Loan
proceeds disbursed by check are picked up in the Office, while
funds transferred electronically are deposited directly into
student accounts within the Student Billing and Receivables
(SBAR) system. The Office is responsible for requesting and
reconciling these electronic fund transfers and for returning
all unused or ineligible funds to lenders when necessary.
The Emergency Loan unit provides a valuable service to students
by granting interest-free, short-term emergency loans to currently
registered students with an urgent financial need. Staff members
regularly conduct counseling sessions with all loan recipients
regarding their rights and obligations under the various loan
programs.
Loan Collection. Responsibility for the
collection of campus-based loans and some campus receivables
rests with the Collections Office. Debt management staff provide
beneficial one-on-one counseling services to assist borrowers
in managing their loan indebtedness. Counselors apprise borrowers
of the various options available for resolving delinquencies
including deferments, loan cancellations, forbearance, temporary
special payment arrangements, and loan consolidations. In
addition to internal efforts, the Collections Office utilizes
outside collection agencies, Small Claims Court litigation,
the State Tax Offset program, and Credit Bureau reporting
to effect the collection of delinquent debts. All Collection
Office staff are thoroughly trained to ensure that strict
compliance with Federal and State regulations is maintained
at all times. Due to these efforts, UCLA delinquency rates
are substantially below national averages. |