Frequently Asked Questions
- Where do I send my payment?
- How do I change my address?
- How do I know if I am eligible to defer and/or cancel my loans?
- I would like to pay off my loan. What is the process?
- How do I arrange for my monthly payment to be automatically debited from my bank account?
- I am considering consolidation, can I include my Perkins Loan?
- My name has legally changed. How do I change it on my loan account?
- When will my new Promissory Note be mailed to me?
- What is a Federal Perkins Loan Master Promissory Note?
- I have received notification that my loan has been transferred to the Boston University Collection Department. What do I do?
If you do not have a payment stub, send your payment to: Boston University Student Loan Department, 881 Commonwealth Avenue, Boston, MA 02215. If you have a payment stub, send your check along with the stub to: Boston University, P.O. Box 970004, Boston, MA 02297-0004. Please include your account number or Social Security number on the face of the check.
There are many different types of deferments you may be entitled to. For a complete list of available deferments and their requirements, please see our Federal Loan Facts page.
You must call our office at 617-353-2340, during regular business hours, 9 a.m.-5 p.m. (Monday–Friday). We will need to know the date you anticipate paying the balance of your loan in full. This is necessary because we need to calculate the accruing daily interest and project your payoff balance. To submit your information via the Web, please fill in our online form. You may also go to www.mycampusloan.com and follow the instructions given.
You may visit loanconsolidation.ed.gov for answers to consolidation questions. Please be aware that once you consolidate your Federal Perkins Loan, you may lose your deferment and cancellation provisions. If you are eligible for cancellation (see cancellation criteria on the Federal Loan Facts page), do not include your Boston University Federal Perkins Loan in with your consolidation.
You must send us a copy of the legal document (i.e., marriage certificate or other) that affected your name change.
This process is handled by Boston University Financial Assistance for all undergraduate students. Graduate students should contact the financial assistance department for your particular school. For more information on your school, please visit the main Boston University website.
The Federal Perkins Loan Master Promissory Note (MPN) is a promissory note that can be used to receive a line of credit for the maximum amount of loan for which you are eligible under the Federal Perkins Loan Program, not to exceed the maximums allowable under the Higher Education Act. (Click here to view an example of the master promissory note)
I have received notification that my loan has been transferred to the Boston University Collection Department. What do I do?
You must contact the Collection Department directly at Boston University Collection Department, 881 Commonwealth Avenue, Boston, MA 02215. You can also call 617-353-4100 or e-mail firstname.lastname@example.org.