Interest does not accrue during the time the student is in school. An annual allocation is granted to Grace from the federal government which, combined with repayments to the fund from previous Grace borrowers, determines the number and amount of loans which can be made available. There is a nine month grace period after discontinuance of one's education before repayment begins. A parent may apply to borrow a maximum of the student's cost of attendance minus any student financial aid. Monthly repayment on PLUS loans begins within 60 days after the second disbursement of the loan.
More complete details are available from participating lenders.
Part-time employment may be available to qualified students who wish to work in order to help meet part of their expenses. Student employees average approximately 12 hours per week and receive paychecks every two weeks for their work.