Principal and interest payments begin 12 months after the student graduates, withdraws, or drops to less than half-time attendance. Deferrals available for student status, economic hardship, and select volunteer services. Recipients are required to sign a Promissory Note. The promissory notes will be sent to the students by certified mail, the student must sign and return the promissory note if accepting the loan. All loans not signed for will be cancelled.
Priority is given to undergraduate students.
Up to total loan forgiveness is possible for teaching in low-income population areas, teach the disabled, or teaching in a federal Head Start program. Additional loan cancellation conditions exist. Preference given to LPN students. Principal and interest payments begin 12 months after the student graduates, withdraws, or drops to less than half-time attendance. Recipients are required to sign a Promissory Note.