- A deferment form should be completed on or after the first day of full-time employment in an eligible job. You must also send a copy of your job description in with your deferment.
- Once the deferment form is processed, we will send you a cancellation form to file not more than one month prior to the end of your employment year. When we process your cancellation form, we will send you another to file one year later. After the first year, we will continue to defer your account, providing you indicate on your cancellation form that you will continue in the same job for the following year.
- The cancellation rates are as follows: 15% for each of the 1 st and 2 nd years, 20% for each of the 3 rd and 4 th years, and 30% for the fifth year.
- Be sure to specify your exact dates of employment. Remember, only a full year of full-time employment qualifies for cancellation. Do NOT alter dates. If you make a mistake have your employer verify the correct dates of your employment on official letterhead.
- Be sure to specify the exact name of the institution where you are/were employed.
- Be sure to sign your form.
- Have your form certified and sealed in Part II by your employer. Forms without an official stamp, seal, or verification on letterhead are not valid and will be returned. Notary seals are unacceptable.
- You must have a completed exit interview on file at UW-Eau Claire before any deferment/cancellation form will be applied to your account. This information is required by the Federal Government and includes a signed repayment schedule and a completed exit interview questionnaire. This information should have been given to you at the time of your separation from UW-Eau Claire.
- If you change employers, you will need to contact us immediately. We will then have you file a deferment form with your new employer. If you have more than a 2 week break in full-time employment, you may need to make payments.
- If you drop below full-time employment or leave an eligible job, you will become ineligible for this benefit. If this happens, you must contact our office immediately. At that time your deferment will be removed and you will be required to make payments.
- If you have any questions, please contact Chris Bell at 715-836-4817, or Renae Hestekin at 715-836-4324, or write to us at:
UW-Eau Claire Loan Services
P.O. Box 5050
Eau Claire, WI 54702-5050