There is no penalty for prepayment of this loan. Interest begins to accrue from date of disbursal. Repayment begins six months after graduation or when the student status drops to less than half-time. A student has up to fifteen years to repay this loan. There is no origination fee for this loan.
Interest begins to accrue from date of disbursal.
Repayment begins six months after graduation or when the student status drops to less than half-time. A student has up to twenty-five years to repay this loan. There is no origination fee for this loan. Those students who know that they will require an alternative loan should begin the process as early as possible. As mentioned previously, alternative loan information packets and information will be automatically mailed to all students in June 1999.