The Student Educational Loan Fund
It may help you pay for your education in a university or for master course. This program is administered by the Minnesota Office of Higher Education and can be used only for educational purposes. It is a loan, not a scholarship, so it must be repaid by the borrowers
An eligible students
• Enrolled in an eligible school U.S
• Enrolled at least half time in a program leading to a certificate, associate, baccalaureate, graduate or education degree.
• Students are making satisfactory academic progress as defined by the school.
• Students are not be in default of any student educational loan at the current or previous school.
• Students are not be currently delinquent in payment of interest or principal on an outstanding loan from the SELF Program, or on any other federal, state, private or institutional student loan program.
• Students have a credit-worthy co-signer.
Payment of Interest
Students must pay interest quarterly while in school. During the first 12 months after graduation or if enrollment drops below half time, the students will be converted to a monthly interest repayment schedule.
Repayment of Principal and Interest
The period in which monthly principal and interest are paid is called the “repayment period” Near the end of the 12-month transition period, you can choose between two repayment plans as long as a required repayment period has not started:
• The Standard Plan requires the monthly payment of principal and interest starting on the 13th month after graduation or when enrollment drops below half time.
• The Extended Interest Plan provides two additional years of monthly interest-only payments. Monthly payment of principal and interest with this plan begins on the 37th month after graduation or termination of study.
It may help you pay for your education in a university or for master course. This program is administered by the Minnesota Office of Higher Education and can be used only for educational purposes. It is a loan, not a scholarship, so it must be repaid by the borrowers
An eligible students
• Enrolled in an eligible school U.S
• Enrolled at least half time in a program leading to a certificate, associate, baccalaureate, graduate or education degree.
• Students are making satisfactory academic progress as defined by the school.
• Students are not be in default of any student educational loan at the current or previous school.
• Students are not be currently delinquent in payment of interest or principal on an outstanding loan from the SELF Program, or on any other federal, state, private or institutional student loan program.
• Students have a credit-worthy co-signer.
Payment of Interest
Students must pay interest quarterly while in school. During the first 12 months after graduation or if enrollment drops below half time, the students will be converted to a monthly interest repayment schedule.
Repayment of Principal and Interest
The period in which monthly principal and interest are paid is called the “repayment period” Near the end of the 12-month transition period, you can choose between two repayment plans as long as a required repayment period has not started:
• The Standard Plan requires the monthly payment of principal and interest starting on the 13th month after graduation or when enrollment drops below half time.
• The Extended Interest Plan provides two additional years of monthly interest-only payments. Monthly payment of principal and interest with this plan begins on the 37th month after graduation or termination of study.
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