Loan Repayment: CCOM Loan

CCOM LOAN

Payments are made over a maximum of 8 years, with a minimum payment of $50 per month.

Grace Period

The CCOM Loan has a 6-month grace period. Interest will accrue at a simple 5% per annum immediately after graduation, unless you enter into an approved internship.

Repayment of Principal and Interest

Repayment begins 6-months after graduation, unless you enter into an approved internship and properly complete the necessary deferment forms. There is no prepayment penalty if you decide to pay your loan in full at anytime. You cannot include this loan in a Federal Consolidation Loan.

CCOM Loan Deferment and Forbearance Criteria

The CCOM Loan Program offers you a variety of deferment and forbearance options. You are entitled to have the repayment of a loan deferred under certain circumstances. To qualify for a deferment, you must meet the specific eligibility requirements for that deferment type.

• Internship deferment - 1 year
• Residency deferment - 3 years
• Economic Hardship deferment - Up to 3 years
• Forbearance - Up to 3 years