Repayment Plans
The following chart shows typical monthly payments and interest charges for 6.8 percent loans of varying amounts.
Typical Repayment Plans
| Total Indebtedness | # of Payments | Monthly Payment |
|---|---|---|
| $3,000 | 120 | $50.00 |
| $5,000 | 120 | $58.00 |
| $10,500 | 120 | $121.00 |
| $15,000 | 120 | $173.00 |
| $40,000 | 120 | $460.00 |
All students who are first time borrowers must complete entrance counseling. Student Borrowers who drop below half time, totally withdraw, or graduate must complete exit counseling.
Deferments and Loan Terms
You may be eligible for a loan deferment if you are enrolled at least half-time at a post-secondary school, study in an approved graduate fellowship program, experience economic hardship, or are unable to find full-time employment. Contact your lender for details about all of the various repayment options.
Information included in this publication is subject to change. Contact the Office of Financial Aid with any questions you may have about this information.