If you choose to defer principal and interest, a guarantee fee of 6.5 percent applies. These fees allow you to borrow without pledging assets or collateral. Immediate Repayment Pay principal and interest in a fixed monthly amount beginning within 45 days after funds are disbursed. 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 TERI Alternative Loan allows you up to 25 years to repay, depending on the total amount borrowed. You will never pay a penalty for early repayment. Select 2 for Customer Service 3. Provide the FoneFunds Representative with your application information.