Interest Rates and Repayments

Interest rates are included in the terms of your loan, fixed for the life of the loan based on the date of the first disbursement. Interest rates are subject to change each year. For the latest information on applicable interest rates and fees, please see the Federal Student Aid website.

It is important that you understand your rights and obligations when borrowing US Federal Loans. Students are advised to fully research and understand responsible borrowing and repayment before requesting Federal Loans.

Entrance Counselling is a condition of your loan agreement and should be completed before you start your course; likewise, Exit Counselling should be completed as you are coming to the end of your studies at YSJU. It will inform you about repayment and money management, and advise you how to make the necessary arrangements before and during repayment. You can complete Exit Counselling on the website.

Please visit the Repayment section of the Federal Student Aid website in order to view some sample repayment plans, to give yourself a good idea of the requirements you will have to meet when your loan goes into repayment after you complete or leave your studies. The website also contains sample monthly repayment amounts. You will arrange repayment of Federal Loans directly through your loan servicer. Your servicer details can be found online at My Federal Student Aid. You should always keep in contact with your loan servicer to make sure that you are up-to-date with loan repayment information.

Borrowers of Unsubsidized loans have the option of paying interest while still attending the University.

The borrower must repay the full amount of the loan regardless of whether the borrower completes the program, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services the borrower has purchased from the University.

It is your responsibility to:
-Notify your loan servicer of anything that affects your ability to repay your loan
-Notify your loan servicer of any changes in your status, including graduation, and any changes to your name, address, or telephone number 
-Notify your loan servicer if you fail to enroll for the period covered by your loan

You can also make an early repayment directly to your loan servicer. If you make a repayment within 120 days of loan disbursement, then your lender will treat this as a partial or full cancellation, with the appropriate adjustment of the loan fee and interest.

Your student loan must be repaid. You will risk going into default if you do not make your loan payments as required by your loan servicer. Federal Student Aid offers full guidance on understanding default.

If a student falls into default on any of their previous loans, they will be ineligible for any further Federal Aid until they have rectified their default status.

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