Nursing Faculty Loan Services

Loan Repayment Terms

• Repayment of the Nursing Faculty loan begins when the grace period ends.
• Loan payments are due on the first day of each month.
• Monthly payment amount depends on the amount borrowed.
• The repayment period may not exceed 10 years.
• The University of Texas at Austin sends monthly statements to loan borrowers. Nonreceipt of statements is not a valid defense for nonpayment. It is the responsibility of the borrower to pay the bill.
• The monthly statement will have a coupon to return with your payment and an envelope for mailing your payment.

There are many payment options available:

Loans AutoPay - Features include:

• Automatic withdrawal at no charge.
• Withdrawal from your checking or savings account.
• No postage to mail a payment
• Payment posted to your loan on the same day each month.
• Payments posted to your loan account immediately.

A high assurance UT EID and password are required to access your Electronic Funds Transfer (EFT) information on line. Access your bank information at this link: https://utdirect.utexas.edu/acct/rec/weft/webEFT_info.WBX. Please take the time to input your current banking information before setting up your monthly payment.

You may set up your own automatic monthly payment using this link: https://utdirect.utexas.edu/acct/rec/autopay/. If your current UT EID does not allow you to see your EFT information, you will need to upgrade it to a "high assurance" level. Please contact our office for information on upgrading your UT EID.

You may also contact us for information on starting this new service. Download the form, complete it, and mail it back to us.

Allow 10 days to receive the forms for processing. An acknowledgment will be sent to you by e-mail to let you know that the EFT service has been set up for you.

eCheck!

This is a new electronic service that allows you to make a one-time payment online that will electronically withdraw the funds from your checking account. You will need your UT EID and password to use this service. You can use eCheck at any time, 24 hours a day.

Please go to the What I Owe page to make your payment. It is very important that you have the correct banking information before you begin. eCheck help and FAQs are available from the What I Owe page.

Cash, Checks, or Money Orders

• Pay by cash at the Cashier windows on campus in Room 8, UT Tower.
• Pay by check and money order via mail or at the Cashier windows..
• Make checks and money orders payable to the University of Texas at Austin.
• Write the name of the borrower on the check as it is on university records.
• If you know your UT EID, write that on your check as well.

If your personal check is returned for insufficient funds (NSF), you will not be able to make your payments with a personal check for 12 months.

Credit Cards

• A high assurance UT EID and password are required.
• MasterCard and Discover only.
• Made online via the What I Owe page.
• Mail in your loan coupon for the exact amount of the payment and include your credit card information.