LOAN DIFFERENCES
General information regarding loans can be found in financial aid. For repayment information on those loans, please contact your lender.
LOAN TERMS
original grace period A specific period of time after you graduate or withdraw from the University, during which you are not required to make principal payments. For some federal loan programs the government will pay the interest during the grace period; however, for others you may be required to pay it.
interest Indicates the annual percentage rate of the fee you must pay when money is borrowed.
repayment terms Contact your lender(s) to find out the payment plan established for your loan(s). Repayment plans are determined by the amount borrowed and interest rates.
repayment options Repayment plans offered for certain federal loan programs, which are determined by the amount borrowed and the interest rate(s). For additional information, contact your lender(s).
deferment/forbearance Deferments/forbearance can temporarily postpone loan payments. You must complete an application and meet certain criteria to qualify. Different deferments or forbearance are available on most student loans. You should refer to each of your promissory notes for specific eligibility. For applications contact your lenders.
consolidation This option allows you to combine different federal loan programs to obtain one loan, with one interest rate, and one repayment schedule. Contact your lender for additional information and an application.
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