| The government pays (subsidizes) the interest on the loan while the
eligible student maintains enrollment at least half-time, during the grace period and
during periods of authorized deferment. Repayment begins six months after graduation,
withdrawal, or enrollment less than half-time
Deferments may be available
Maximum repayment period, 10 years
All program participants must use common forms
Student pays 3% origination fee and 1% insurance fee. The 1% insurance fee will
be eliminated for new loans disbursed on or after July 1, 1999. |
