Your Rights and Responsibilities

Your Rights

You may prepay all or any portion of the principal plus accrued interest at any time without a penalty. Payments are applied to outstanding collection, late and interest charges before being applied to the principal. The balance of the loan is not reduced by the total payment amount; it is reduced only by the amount applied to principal.

Payments made in excess of the amount due will be used to reduce principal unless you clearly designate in writing that excess amounts are payments toward future installments. 

You are entitled to request deferment of your loan as specified in your promissory note. These requests must be made in writing to the NNU Student Loan Office.


Your Responsibilities

Exit Interviews
Loan regulations require borrowers to complete an exit interview prior to leaving NNU. These are conducted individually by the Business Office. If you have not completed an exit interview, please contact the Business Office at 467-8534 or campusloans(at)nnu.edu.

Name and Address Changes
You must promptly notify NNU or ACS (our billing service for your loan) of any name, address, and/or telephone number changes. Filing a mail forwarding order with the Post Office does not fulfill your obligation under this clause. 

Completion of Forms
You must submit properly and fully completed certified forms for requesting deferment on a timely basis. 

Timely Remittances
Payments are due on the first of every month. You should allow ample time for the payment to reach ACS. We recommend you send payment by the 20th of the month so it has reached ACS by the 1st. You must contact NNU before the due date of any payment that you are unable to make. This enables our office to assist you in determining possible payment alternatives, if necessary.

Late Fees
NNU may impose a late fee of up to $25 on the sixteenth of the month if you do not make a scheduled payment when it is due and if you do not submit to NNU on or before the date on which payment is due, documentation that you qualify for a deferment.

Collection Costs
You, the borrower, will pay all reasonable collection costs necessary for the collection of any amount not paid when due.

Credit Verification
NNU is the owner of your loan. Requests for credit verification, mortgage verification, and bankruptcy notices must be sent to the NNU Business Office, Student Loans, 623 S. University Blvd., Nampa ID 83686-5897.