Billing Statements
Billing Schedule
Bills, also referred to as statements, are sent out around the 10th of the month, with the payment due the first of the following month. You have until the tenth of the month to get your payment in without penalty. If your payment is not received by the time the next month’s bills are run, your account will be assessed a late charge.
Billing Information
The bills will list all your loans. The top part of the statement lists the amount due for each loan and has a perforated edge, so you can tear off the stub and include it with your check. (NOTE: It is always a good idea to write your WSU ID number on your check.) The middle part of the statement lists all your loans and the current principal balance remaining on the loan. The bottom part of the statement has an area for messages pertaining to specific loans. Be sure to always read your messages. If you wish to pay off your loan in full, this information is printed on the statement.
Credit Reporting
All your campus-based student loans are reported to the three national credit bureaus: Equifax, Experian (formerly TRW) and TransUnion. If you have student loans from other lenders, they are also probably reported to at least one of these credit bureaus. Once your student loans go into repayment, you will be building either a positive or a negative credit history.
Delinquent Loans
Delinquent loans are assessed late penalties, collection costs and/or litigation fees. Failure to pay loan obligations will increase the amount owed and create a negative report to the Credit Bureau. If your account is past due, transcripts, diplomas, future registration, and other university services will be withheld.