This loan is available to all international students who are in their second year or more of enrollment at Caltech. The student must be making satisfactory academic progress and must demonstrate a need for the amount of the loan requested to pursue his or her course of study at the Institute. Interest is not charged and repayment of principal isn t required while a student maintains a continuous course of study as a graduate student. Repayment begins 9 months after leaving school or dropping below half-time status. Interest is then charged at a rate of 5 percent on the unpaid balance until the loan has been repaid in full.
More specific information is provided to each borrower on the promissory note.
Notes are payable within 90 days. Interest is charged on past-due loans. Refunds Students who officially withdraw from the Institute during an academic term will receive a tuition refund based on a schedule published in the Caltech Catalog . When granting refunds to financial aid recipients, the award is reduced by the amount of the tuition refund and any adjustments in the actual living costs. An entrance interview is required at the time a borrower signs the loan repayment agreement.