Such loans are interest-free.
Loans are for tuition only, and are made payable directly to the educational institution.
Repayment of the loan begins immediately and may not extend beyond eighteen months. Repayment is made through payroll deduction. In the event of termination of contract, the University reserves the right to deduct the balance due from the final payroll check. If interested in such a loan, the individual obtains a statement from the Vice President for Academic Affairs that such a loan is approved. The statement is then presented to the Vice President for Business Affairs to be processed.