You will begin making interest-only payments on your loan 30 to 45 days after it is disbursed. These payments are made while you are in school and for the first six months after graduation to help you start building your U.S. credit history. You will begin making full repayments (i.e., interest plus principal payments) starting six months after you graduate until the loan is paid off (10-year repayment period).
Articles in this section
- If a withholding tax applies to me, what should I do then?
- How will I know if a withholding tax applies to me?
- Could I be responsible for repaying amounts other than principal and interest if I am living outside the U.S.?
- Will I be required to repay anything in addition to principal and interest on my MPOWER student loan if I continue to live and work in the U.S.?
- How do I set up an automatic withdrawal?
- What is an automatic withdrawal?
- If I apply for $25,000 but my university only requires a smaller amount, do I pay for the whole loan?
- How do I make payments if I go back to my country after school?
- Can I make payments from my Canadian bank account?
- How much time do I have to pay back the loan?