| Q. |
How
do I apply for a loan? |
| A. |
To
apply for financial aid (grants, loans, employment) Undergraduate
students should contact the Financial Aid Office at (626) 395-6280
or e-mail them at finaid@caltech.edu
and Graduate students should contact the Graduate Office at
(626) 395-6346 or e-mail them at gradof@its.caltech.edu
to obtain detailed information about our assistance programs
and application forms.
[Back to Top] |
| Q. |
Is
my promissory note ready for me to sign? |
| A. |
Call
the Financial Aid Office at (626) 395-6280 or e-mail them at
finaid@caltech.edu.
They can tell you the status of your loan and whether or not
they have sent the Bursar's Office the necessary information
to generate the promissory note. [Back
to Top] |
| Q. |
How
do I apply for a deferment? |
| A. |
Call
or e-mail the Bursar's Collection Desk and let us know what
category of deferment you will be applying for. We can send
you the appropriate form or you can click on the link for FORMS
and print out the appropriate one.
- Bursar's
Office (626) 395-2988
- Loan
Collection Desk: Abby Gosalvez (626) 395-6752
- E-mail:
christian.gosalvez@caltech.edu
- Caltech
Bursar's Office, MC 120-87, Pasadena, CA 91125
|
| Q. |
Where
do I send my payment if I do not receive a billing statement
coupon? |
| A. |
If you
do not receive a bill in time to make your payment, send it
to the above address attention Abby Gosalvez or you can send
it to ACS (Affiliated Computer Services, Inc.)
- All
correspondence and deferment forms should be sent to ACS, Inc.-Education Services, Campus Products and Services, P.O. Box 7060, Utica, NY 13504-7060
- All
payments WITHOUT a coupon should be sent to ACS, Inc.-Education Services, Campus Products and Services, P.O. Box 7061, Utica, NY 13504-7061
- All
payments WITH a coupon should be sent to ACS, PO Box
512345, Los Angeles, CA 90051-0345
*NOTE:
Include your account number on your check. If you have more
than one loan and would like it applied a certain way, send
a note letting them know how much should be applied to each
loan account.
|
| Q. |
I
want to pay off my loan. How do I find out my balance? |
| A. |
If you
want to pay off your loan in full, contact our office for
a payoff figure, which will include the principal balance
plus interest projected through the payoff date.
|
| Q. |
Can
I prepay on my loans? |
| A. |
"PREPAY"
is any amount paid in excess of the amount due on your loan.
Prepayments are applied directly to the outstanding principal
balance of the loan and are not automatically applied to future
payments. You would have to call and request it. [Back
to Top] |
| Q. |
My
address has changed. Who do I notify? |
| A. |
Call or
e-mail the Bursar's Office. Include your account number and
updated address and telephone number in your correspondence.
|
| Q. |
Can
I have my loan payment deducted from my checking account? |
| A. |
ACS
has a program called the Automatic Bill Payment that gives you
the enjoyment of security, convince, savings and quickness by
having your payments automatically withdrawn from your checking
account. The Service is absolutely FREE. All you have to do
to get started is fill out the application.
With automatic Bill Payment, you can eliminate the burden of
mailing payments by using the free service, which insures that
your payments are always on time and current. Automatic Bill
Payment is the easiest way to make your student loan payments.
[Back
to Top]
|
| Q. |
Can
I consolidate my loans? |
| A. |
If you
have financed your studies with loans under the Federal Stafford
(Subsidized and Unsubsidized), Federal District, and Federal
Perkins programs you may be eligible to consolidate some or
all of these loans, no matter who holds them. If you consolidate
your loans, your period of repayment may be extended and you
will make one monthly payment for all consolidated loans.
Caltech does not offer consolidation.
If you are interested in consolidating your loans, you can
obtain further information and application forms from the
following companies:
- Consolidation
Department of the Direct Loan Organization Center 1-800-557-7392
- Sallie
Mae 1-800-522-1245
- Nellie
Mae 1-800-EDU-LOAN
- William
D. Ford Federal Direct Loan Program 1-800-848-0982
*NOTE:
Before you decide to consolidate your loans, take some time
to see if you would benefit. Check out EdWise, the online
financial Planning calculator at www.edfund.org,
to evaluate your repayment options. Ask your lender about
the benefits of a Consolidation loan - what would your new
interest rate, monthly payment, and terms be? Would you still
have the same deferment and forbearance options? As always,
pay careful attention to all the terms and conditions of the
new loan. [Back
to Top]
|
| Q. |
How
do I get information about my loans such as interest rates,
balances, or receipts of payment? |
| A. |
Call
the Bursar's Loan Collection Desk, Abby Gosalvez (626) 395-6752
or christian.gosalvez@caltech.edu
or you can log onto afsa.com, log in and you will be able to
view your loan accounts. [Back
to Top] |
| Q. |
I
am having trouble making my payments. What should I do? |
| A. |
If
you are unable to make a payment when it is due, you should
contact the Bursar's Loan Collection Desk at (626) 395-6752.
This contact is especially important because our office is required
to report all the loans to credit bureaus. If special circumstances
exist, the Collection Desk should be notified before your loan
becomes delinquent so that corrective action can be initiated.
[Back
to Top]
|
| Q. |
I
am a former student of Caltech and still owe on my tuition cost.
Who can I contact about this issue? |
| A. |
If
you owe money for your tuition costs you should contact Megin Soriano our Student Account Manager at (626) 395-6753 or
megin.soriano@caltech.edu
there are payment options that can be helpful for you. |
| Q. |
Will
my payment history be reported to the credit bureaus? |
| A. |
Yes.
Your account balance and status are required by Federal Law
to be reported to the credit bureaus on a regular basis. Just
as failing to repay your loan can damage your credit rating,
repaying your loan responsibly can help you establish a good
credit rating. [Back
to Top] |
