Repayment begins six months after the graduation date or when the student is enrolled at less than full-time status. In the event of default, cosigners are liable for one half of the total. Borrower must meet credit criteria established by the lender. Payments are deferred for students attending half-time or more. There is a six month grace period which begins when the student graduates or if the student's enrollment changes to less than half-time status.
Interest is capitalized at repayment.
You may take 12 years to repay loans from the original date of disbursement. Repayment options include the standard repayment plan, repayment begins within 45 days of disbursemen tof the loan. The Deferred Principal Repayment Plan, borrowers may make interest only payments while the student is in school. The repayment period is 15 years. You may take 15 years to repay the loan.