Federal Government pays interest during in-school, grace and deferment periods. Fees are assessed once on each loan and deducted from the principal amount of the loan. Repayment begins 6 months after graduation, withdrawal or change to less than half-time status. Up to 10 years to repay loan, extended period available Various repayment options available. Class year progression.
Student is responsible for interest during in-school, grace and deferment periods.
Student is charged interest from the time the loan is disbursed until it is paid in full. If the interest is allowed to accumulate, it will be capitalized. This interest will be added to the principal amount of the loan and will increase the amount that has to be repaid. Student may choose to pay the interest as it accumulates, the student will repay less in the long run. Repayment begins 6 months after graduation, withdrawal or change to less than half-time status.