Repayment

As a borrower, you may have received NSLs during your course of study that are covered by different statutory provisions due to legislative changes in the program. NSLs are governed by provisions in effect at the time loans are made. Read this information carefully to understand these major provisions governing repayment of your loans.

The total amount of loan support received under this program, plus accrued interest, is repayable over a 10-year period that begins immediately after the 9-month grace period expires. During the repayment period, you may repay the loan and accrued interest in equal or graduated installments according to the repayment schedule. You may prepay all or any part of the loan principal and accrued interest at any time before it becomes due.

All loans made on or after November 4, 1988, carry a uniform interest rate of five percent (5%) a year. For interest rates on loans prior to November 4, 1988, contact Student Financial Collections. Direct your specific questions concerning your repayment terms or schedule to Student Financial Collections.

For further information on the billing process and payment methods available, please see University-administered loan payments.