The due date on your KU Endowment Association long-term student loan is 4 months after your anticipated date of graduation. SHOULD YOU WITHDRAW FROM THE UNIVERSITY OF KANSAS PRIOR TO YOUR GRADUATION DATE, THE LOAN WILL BECOME DUE ON THE DATE OF DISENROLLMENT.
If your graduation date changes, please notify this office as soon as possible so we can adjust your loan due date.
You may repay all or any part of this loan prior to the loan due date. Loan interest rate is 4.5% from issue date to due date. The loan principal and interest not paid by loan due date will be consolidated for repayment purposes and shall be repaid in monthly installments of no less than $50.00 per month. The maximum repayment period is 10 years. The loan interest rate is 4.5% after the loans have been consolidated.
These loan funds are provided by alumni and friends of the University of Kansas to assist students with their educational expenses. If you would like to thank the donor(s) for your loan, please send your letter to Loan Office, The Kansas University Endowment Association, P.O. Box 1817, Lawrence, Kansas 66044-8817 and we will forward your letter to the appropriate donor.
You are asked to guarantee this debt. You may have to pay up to the full amount of the debt if the borrower does not pay. You may also have to pay late fees or collection costs, which increase this amount.
The creditor can collect this debt from you without first trying to collect from the borrower. The creditor can use the same collection methods against the borrower, such as suing you, garnishing your wages, etc. If this debt is ever in default, this fact may become a part of your credit record.
Borrowers may be issued additional loans that could increase their total student loan debt. You are responsible only for the loans that you cosign and will receive no information on future loans unless you cosign those loans.
This notice is not the contract that makes you liable for the debt.
In consideration of my being able to participate in The Kansas University Endowment Association Student Loan Program available at the University of Kansas, I agree that I will repay any loan granted to me by The Kansas University Endowment Association. I agree that if I do not repay the loan, the University of Kansas may withhold my student records or enrollment for such nonpayment.
The Kansas University Endowment Association takes your privacy very seriously. Please consult our Information Privacy Notice for complete disclosure.
On this date, 10/10/2003, the borrower (hereinafter "I", "me" or "my") promises to pay $25.00 and finance charges plus interest to the order of THE KANSAS UNIVERSITY ENDOWMENT ASSOCIATION OF LAWRENCE, KANSAS. The AMOUNT FINANCED $25.00 together with a FINANCE CHARGE (THE INTEREST ACCRUED THROUGH THE MATURITY DATE OF THE LOAN) OF 5.00% will be repaid in monthly installments during a repayment period that begins the month immediately following the maturity date for this loan. The "maturity date" is four months following borrower's graduation or at such time when borrower ceases to be a full time student in a degree program. Payments made by me or on my behalf will be applied first to late charges, then to interest that has not been paid, and finally to the principal amount of the loan.
Upon borrower's graduation or failure to continue to be enrolled as a student at the University of Kansas, THE KANSAS UNIVERSITY ENDOWMENT ASSOCIATION OF LAWRENCE, KANSAS will provide me with a repayment schedule that identifies the payment amounts and due dates. Because the graduation date may change from the anticipated graduation date as of the date of this loan, I agree to be bound by the payment schedule which will be provided in the future.
The ANNUAL PERCENTAGE RATE IS 4.5 % on the unpaid balance. Interest accrues on the unpaid principal balance of the loan from the date of disbursement until the entire balance is paid in full. Multiple loans will be consolidated for repayment purposes, and the initial principal balance of the new consolidated loan will include any unpaid principal balance and unpaid accrued interest of the original loans. Loans will be payable over a period of no more than ten years.
Late Charges and Collection Fees:If the amount financed plus accrued interest is not paid according to the schedule of the due dates such amounts will be considered in default and will be consolidated for the purpose of repayment and subject to an ANNUAL PERCENTAGE RATE OF 14%. A $2.50 late fee will be charged for each late installment payment. This note may be turned over for collection by an outside agency, and my academic records will be placed on hold. I understand that I will be responsible for all costs and fees associated with any collection activity and that the delinquency may be reported to a credit reporting agency.
The entire balance shall become immediately due and payable upon the occurrence of any one of the following events:
This note is also subject to the following conditions:
If you need help completing this form, please contact your school.
If you are having problems with this form, please contact our Webmaster.