Repayment
- Repayment begins following a 12-month grace period after you cease to be a full time student.
- Interest at 5 percent is computed on the unpaid principal balance and begins to accrue when your grace period ends, unless you are eligible to defer payment.
- Loans are repaid over a period of not less than 10 years or more than 25 years, at the discretion of the institution.
Before you complete your course of study (or withdraw from the University for any reason) you must meet with a Student Financial Collections representative to discuss your loan repayment, and provide an address where you can be contacted in the future. Planning during the repayment period will be simplified if you have discussed your obligation and available benefits prior to leaving the University. Until your loan is repaid, you must keep SFC informed of all address changes.
Please be aware that severe penalties are imposed if you fail to repay your loan or fulfill your service obligation.