With three different repayment options, TERI has ensured that repayment of the TERI Alternative Loan will be easy for all borrowers. Just pick the option that will best suit your needs. Payment of principal and interest then begins within 45 days after graduation or withdrawal from school. Repayment of principal and interest then begins within 45 days after graduation or withdrawal from school.
Interest is capitalized once at repayment.
The amount shown here is the payment that will be made during the deferment term if the student elects to defer principal and make interest-only payments. The monthly interest payment will increase if the interest rate increases. Interest-only payments during deferment do not reduce the principal balance of the loan. After deferment, full principal and interest payments begin and continue throughout the life of the loan. Monthly payments on Option I remain fixed throughout the life of the loan.