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Student Financial Services

North Foundation Hall, Room 120
318 Meadow Brook Road
Rochester, MI 48309-4454
(location map)
(248) 370-2550
Have your Grizzly ID ready
M-F 8 a.m. - 5 p.m.
OU school code: 002307

Student Financial Services

North Foundation Hall, Room 120
318 Meadow Brook Road
Rochester, MI 48309-4454
(location map)
(248) 370-2550
Have your Grizzly ID ready
M-F 8 a.m. - 5 p.m.
OU school code: 002307

Perkins Loan Billing & Collections


Important: Under federal law, the authority for schools to award additional Perkins Loans to students ended on September 30, 2017.

Perkins Loans are funded by the federal government and Oakland University. The interest rate on a Perkins Loan is 5%. Oakland University is the lender of the Perkins Loan, but University Accounting Service (UAS) is the billing service that Oakland University uses to handle billing and collections on all Perkins Loans. UAS allows you to obtain and update account information, make payments online, apply for deferments, forbearance or cancellation, and obtain other benefit information.

Borrowers may contact University Accounting Service or Oakland University’s Perkins Loan Administrator to submit benefit forms or for questions regarding their Perkins Loan.

University Accounting Service
P.O. Box 918
Brookfield, WI 53008-0918
(800) 999-6227

Oakland University 
Student Financial Services
ATTN: Perkins Loan Administrator
North Foundation Hall Rm 120
318 Meadow Brook Rd
Rochester, MI 48309-4454
(248) 370-2298

Oakland University also uses two outside collection agencies to collect on Perkins Loans: General Revenue Corporation and Williams & Fudge, Inc. The total amount of your loan plus collection costs and late penalties will become due immediately, and eligibility for any benefits (deferments, forbearance, cancellation, etc.) will be lost, once your account is placed with a collection agency. Therefore, it is always a good idea to call us (or UAS) for help. Once a borrower’s account is sent to collections, the borrower needs to contact the collection agency from whom they received their collections notice.

General Revenue Corporation
(800) 234-1472

Williams & Fudge, Inc.
(800) 849-9791

*Federal Perkins Loan payments and/or benefits do not apply to a borrower’s Federal Direct Loans and vice versa.


As a Federal Loan recipient, borrowers are required to maintain at least half-time enrollment during the fall and winter semesters. Perkins Loan borrowers have a nine-month grace period after they stop attending school at least half-time to either begin repayment or obtain a deferment or forbearance on the loan. A borrower’s grace period will begin the day after they cease to be enrolled at least half-time. Repayment will begin the day after the grace period ends.

It is very important for borrowers to understand that the start date of their nine-month grace period will be back-dated to the last day that they were enrolled at least half-time. Therefore, if they do not meet the enrollment requirements for Fall and they did not attend at least half-time in the previous Summer, then the start date for their grace period will be back-dated to the last day of the winter semester. This will result in the borrower losing several months of their grace period and they will begin repayment sooner than expected.

For more detailed information regarding Perkins Loans, please visit Federal Student Aid (FSA).

As you enter your grace period, you are required by federal regulation to complete an exit counseling session. The session will show you how to manage your student loans after college. A hold will be placed on your OU account until exit counseling has been completed. You can complete Perkins Loan Exit Counseling online through University Accounting Service.

Also, Federal Student Aid provides an optional interactive Financial Awareness Counseling Tool (FACT) to assist borrowers with federal loan debt management. Borrowers are also able to enter private loan information so that they can get help managing their total loan debt.

*Satisfying exit counseling for Perkins Loans does not satisfy exit counseling for Direct Loans, and vice versa.

Updating Contact Information

One of the reasons why borrowers default on their loans is because they fail to update their contact information and they never receive billing notifications.

Oakland University students may submit their address and phone number changes by logging into a secure area online through Oakland University’s secure SAIL system and using the Personal Information Link. You can also give us your email address and cell phone number so that we may provide you with updates and changes on your account. It is very important that you also change your contact information with UAS through their secure online system.

*Updating personal information at UAS for a Federal Perkins Loan does not update personal information for a borrower’s Federal Direct Loans and vice versa. For Direct Loans, a borrower must contact their Direct Loan Servicer.


Checks or money orders must be made payable to Oakland University and mailed directly to University Accounting Service, LLC at PO Box 5865, Carol Stream, IL 60197-5865. Remember to include your account number on all payments and correspondence.

You may review your statement and make a payment online at You will need a password to access your UAS account online. If you do not already have a password, you will need to enroll in this program. You may also call the UAS Interactive Voice Response system at (800) 999-6227. The system operates 24-hours a day, seven days a week.

You may also be interested in consolidating your Federal Perkins and Direct Loans. Through consolidation, all of your student loans are combined into one loan meaning that you will have only one combined loan payment for all of your student loans. Your combined loan payment is usually less than payments made to each loan individually and the repayment period may be extended up to 30 years. Please be aware that you will no longer be eligible for grace, deferment, or cancellation benefits once you consolidate your loans. However, income-based and income-driven repayment plans will be available. Also, a longer repayment period means more interest is paid. For more information or to apply for loan consolidation, please visit


Please be aware that we cannot approve any forbearance, cancellation, or deferment benefits once your account has been placed with a collection agency. The only benefit available once in collections is rehabilitation.

Rehabilitation is a mutually agreed upon repayment agreement between a defaulted borrower and Oakland University. Rehabilitation requires the borrower to make nine consecutive monthly payments, as determined by the agreement, to be removed from default status and to clear the negative credit previously reported to the national credit bureaus.

If you are enrolled at least half time at another institution and would like to defer your payments, you need to submit your In-School Deferment Form to the Registrar’s office at the school you are currently attending. You will need to submit a deferment request annually. Please be aware that a borrower who re-enrolls before the 9-month grace period expires can be placed back into an enrolled status and no deferment form is needed. If the borrower begins enrollment after the grace period expires, they need to complete a deferment form.

You can obtain eligibility information on the various types of deferments and forbearances and the forms to apply for these benefits online at UAS. You can also obtain eligibility information on cancellations online. You must complete a cancellation form to apply for cancellation of your Perkins Loan. Borrowers have a six-month grace period following a deferment to begin repayment. Borrowers enter repayment immediately after a forbearance period has ended.

To apply for a forbearance or deferment, please complete and return the appropriate deferment or forbearance form. This form may be downloaded from Please return the form and the necessary documentation to Oakland University’s Student Business Services, Attn: Perkins Loan Administrator, North Foundation Hall Rm 114, 318 Meadow Brook Rd, Rochester, MI 48309-4454. You will be notified by mail if your request has been approved. If you do not qualify for a deferment or forbearance and you are unable to bring/keep your account current, please contact us at (248) 370-2298 to discuss other payment arrangements.

To apply for a cancellation, please complete and return the appropriate form with all required documentation. This form may be downloaded from Please return the form and the necessary documentation to University Accounting Service, PO Box 918, Brookfield, WI 53008-0918. You will be notified by mail if your request has been approved.

Consequences of Defaulting on Your Perkins Loan

What are the consequences for defaulting on a student loan?*

  • Collection costs
  • Credit report damage (7-year minimum)
  • Wage garnishment
  • Seizure of federal and state tax refunds
  • Legal action in federal district court
  • Ineligible for federal financial aid
  • Increased auto insurance premiums (based on credit score)
  • Rejection on mortgage loans
  • May lose state occupational license
  • May have difficulty obtaining car loans
  • May be unable to rent an apartment
  • May be turned down for jobs

*Source: select excerpts from notes from the Department of Education’s conference on federal student aid November 2010.

BUYER BEWARE! Unscrupulous Companies Offer Default Assistance
Herb Weisbaum NBC News contributor

Did you know?

  • Most Federal Perkins Loan borrowers also have Federal Direct Loans and do not realize that all of the loans can be consolidated into one loan. Until consolidated, making payments or requesting benefits (forbearance, deferment or cancellation) on Perkins Loans does not apply to Direct Loans and vice versa.
  • Federal Perkins loans are reported to credit bureaus. If you make payments or file for deferment or forbearance on time, your credit report will reflect a positive history. Likewise, late payments will result in negative credit reporting. If you are over 30 days past due on your Perkins Loan, you can have your negative credit reporting reversed through rehabilitation.
  • Inform us as soon as possible when not attending at least half-time during the fall and winter semesters because you could lose some of your grace period. Reporting your last day of attendance earlier allows you more time to prepare for repayment.
  • Your federal financial aid award history is available online through the National Student Loan Database (NSLDS).
  • One of the reasons why borrowers default on their loans is because they fail to update their contact information and they never receive billing notifications.
  • It's your responsibility to make loan payments even if you don't receive a statement.
  • If you need to postpone your loan payments, there are forbearance and deferment options available.
  • A deferment of another federal student loan automatically makes you eligible for a Perkins Loan deferment. You only need to submit a copy of the deferment approval to UAS.
  • Your account is considered past due the first day after the bill is due and is in default once you are 240 days past due. Late charges will be assessed once your account becomes past due.