There is no guarnatee fee per application. Generally, repayment begins three to four years after graduation depending on the length of residency training, or after nine months if the borrower's student status changes to less than half time prior to graduation. There is no penalty for pre-payment. Borrowers have a maximum of 20 years to repay. Deferment is automatic for the first 36 months.
Any further deferment requires a specific request.
The application will be sent to the student along with their award letter. EFT tranfers or loan checks mant not be disbursed to the student prior to enrollment for the academic year. Checks are made co-payable to the student and the school to insure tuition payments.