When a student ceases to be enrolled at least halftime, a grace period begins as specified in the promissory note. Payment of principle and interest begins after the grace period. Separate loan application must be submitted according to school's procedures. Must be citizens or eligible non-citizen. Cost of attendance minus financial aid.
Lenders deduct origination fee and insurance before issuing check.
Repayment begins 60 days after the loan is disbursed. Varies depending upon student income criteria, tuition charged and the funds available. Applications available each May from the financial aid office.