All loan funds in excess of those needed to cover charges will be refunded to the student. Applications are available in the Financial Aid Office or may be obtained directly from participating lending institutions. All previous loan borrowers should obtain loan applications from the current holders of their loans. Repayment begins six months after a student withdraws, graduates, or drops below half-time attendance. Students with Unsubsidized Stafford Loans will be responsible for the interest that accrues during the six-month grace period.
Deferments are available and depend on the loan date.
Questions about your deferments should be directed to the holder of your loan. PLUS loans are loans that are borrowed by parents on behalf of their dependent undergraduate students. This program gives parents with good credit histories an opportunity to borrow an amount each year that does not exceed the student s cost of education minus any financial aid received. The PLUS interest rate is variable but cannot exceed 9 percent for loans disbursed on or after October 1, 1992. If a parent has an outstanding PLUS loan received prior to October 1992, the lender should be contacted for interest information.