Biweekly paycheck for hours worked. May NOT be used as a deferment. Proceeds distributed by semester. Loan may be used as a deferment if paperwork is complete. Repayment begins following the grace period initiated by termination of at least halftime study.
Grace period is either six or nine months determined by date of first loan.
Up to ten years to repay. Forgiveness opportunities available. The application process must be complete prior to the last day of the term or of the student's attendance, which ever comes first. Year in school is determined by total credits earned. When a student ceases to be enrolled at least halftime, a grace period begins as specified in the promissory note.