Repayment is made in equal installments, beginning nine months after you withdraw, graduate, or drop to below half-time status. The maximum time for repayment is ten years, not including deferred payment time. Provisions are made for deferment or cancellation of loan repayment under specific circumstances. Funds are donated by many private donors and administered by the university. These loans require an endorser over 18 years old who is not a student or student's spouse.
Parents are preferred endorsers.
You have ten years for repayment. If you enter active military service you may defer repayment for the period of your original enlistment or compulsory service in the armed forces. At least one month's interest will be charged if the loan is paid in full within 30 days. Short-term loans must be repaid either when the repayment source is received OR by the first day of the last month in the semester in which the loan is taken out, whichever comes first. Payment may be made at University Financial Services in S-108 Criser Hall at any time before the due date.