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Aid Programs Specific to Truman State University Four types
of loans are available through the Truman Development Fund
Foundation: short-term loans, long-term loans, computer loans,
and cultural loans. Terms and Conditions: Interest: 5% simple interest. Service Charge: None. Repayment: Within the current term. Deferment of Repayment: Not available.
Third
Party Guarantees: May be required in specific cases.
Note: Loans are not available to pay fees owed Truman
for enrollment, returned checks, campus housing, or phone
charges. Terms and Conditions: Interest: Variable prime rate as of July 1, plus 1% annum on the unpaid principal balance, with interest to accrue from the date of the loan. Service Charge: None. Repayment: Interest shall be payable quarterly each year until amortization payments of principal and interest are required. Amortized payments of at least sixty dollars ($60) per month shall begin three months after a debtor student leaves the University through graduation, withdrawal, transfer, or any other reason. The monthly payments shall be calculated to repay the loan in full, including both principal and interest, within five years after the payments commence. Deferment of Repayment: May be authorized by the Financial Aid Committee. Third Party Guarantees: Loans must be co-signed by two guarantors (normally the student's parents) acceptable to the Financial Aid Committee. If the student is married, then the student's spouse must also guarantee the loan.
Terms and Conditions: Interest: 5%, simple interest. Service Charge: None Repayment: Monthly payments to be paid over a two-year period beginning 30 days after disbursement of funds - minimum payments of at least sixty dollars ($60) Deferment of Repayment: Not available.
Third
Party Guarantees: Loans must be co-signed by two guarantors
(normally the student's parents) acceptable to the Financial Aid
Committee. If the student is married, then the student's
spouse must also co-sign. Terms and Conditions: Interest: Five percent (5%) per annum on the unpaid principal balance, with interest to accrue from the date of the loan. Service Charge: None Repayment: Interest shall be payable quarterly each year until amortization payments of principal and interest are required. Amortized payments of at least sixty dollars ($60) per month shall begin three months after a debtor student leaves the University through graduation, withdrawal, transfer, or any other reason. The monthly payments shall be calculated to repay the loan in full, including both principal and interest, within three years after the payments commence. Deferment of Repayment: May be authorized by the Financial Aid Committee. Third Party Guarantees: Loans must be co-signed by two guarantors (normally the student's parents) acceptable to the Financial Aid Committee. If the student is married, then the student's spouse must also guarantee the loan.
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Direct questions and comments to finaid@truman.edu