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Repayment on your loan will begin accruing nine (9) months after you have dropped below half-time status, graduated, withdrawn or have left school for whatever reason.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
$10,000 120 $106.07 $2,727.86
$11,000 120 $116.67 $3,000.65
$12,000 120 $127.27 $3,272.90
$13,000 120 $137.49 $3,546.22
$14,000 120 $148.49 $3,819.01
$15,000 120 $159.10 $4,092.00
$16,000 120 $169.70 $4,364.58
$17,000 120 $180.31 $4,637.37
$18,000 120 $190.92 $4,910.15
$19,000 120 $201.52 $5,182.94
$20,000 120 $212.13 $5,445.72