Loan Programs Educational loans allow students to borrow money to finance their educational costs. Low interest rates and long-term repayment schedules minimize monthly payments when they begin to repay the loan after leaving college.
Most programs allow at least a six-month period before repayment begins.
Repayment may be extended for a 10-year period at an annual interest rate of 5 percent. Students must repay the loan according to the repayment schedule. If repayment is impossible, Marycrest should be notified immediately. Transfer to another school. Drop below half-time status.