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Loan Collection Office

Repayment

Repayment on your loan will begin accruing nine (9) months after you have dropped below half-time status, graduated, withdrawn or have left school for whatever reason. Repayment is required even if you are displeased with your education, do not graduate, or cannot find a job. 

The following schedule can help you determine the amount to be repaid by adding the total interest to the amount borrowed. 

Total Amount Borrowed	# of Monthly Payments	Monthly Payment	Total Interest (5% fixed interest)
$1,000	27	$40.00	$58.24
$2,000	56	$40.00	$247.37
$3,000	90	$40.00	$604.55
$4,000	120	$42.43	$1,091.01
$5,000	120	$53.03	$1,363.71
$6,000	120	$63.63	$1,636.45
$7,000	120	$74.24	$1909.50
$8,000	120	$84.85	$2182.29
$9,000	120	$95.45	$2,454.67
$12,000	120	$127.27	$3,272.90
$15,000	120	$159.10	$4,092.00

| Loan Collection Office | Controller's Office |