The following is a partial list of the terms and conditions applicable to loans originating in 2000 - 01. However, since terms and conditions of University Parent-Student Loans vary by origination date and exact type of loan, you should refer to your original promissory note for the actual terms and conditions of your particular loan. Student is co-maker. Parent or other co-signer has primary responsibility for payment. No fee charged for insurance Interest rate Variable , set annually on September 1st.
Interest begins to accrue once the loan is disbursed.
Grace period No Repayment period 8 years maximum. Provided at signature of promissory note Repayment begins Principal and interest within 45 days of initial disbursement of funds. Pay only interest accrued to the date the payment is received. When you make your loan payment, specify that you wish it to be applied as a prepayment. No Forbearance Yes.