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case western reserve university

CONTROLLER'S OFFICE

 

Student Loan Note Information

The borrower must without exception, report any of the following to: Case Western Reserve University, Student Loan Office, 10900 Euclid Avenue, Cleveland, OH 44106-7041:

• if he or she withdraws from school;
• if he or she transfers to another school;
• if he or she drops below half-time status;
• if his or her name should change;
• if his or her address or their parents' address changes.

The following contains a directory for general information about student loans. If you have specific questions, please contact the Student Loan Office directly.

Loans for Disadvantaged Students
Federal Perkins Loan
Changes affecting Federal Perkins Loans and National Direct Student Loans (NDSLs)
Health Professions Loan
Nursing Undergraduate Loan
Nursing Graduate Loan
Primary Care Loan
Case Western Reserve University Loan


Student Loan Deferment

General Information
• In order to receive a deferment of repayment, the borrower must request the deferment on the proper deferment request form, immediately upon entry into eligible service or student status, along with any documentation required by Case Western Reserve University to prove that the borrower qualifies. This documentation can be submitted directly to Case Western Reserve University.
• The student may lose deferment benefits if they fail to file the request on time.
• A deferment request form for the Perkins Loan Program is available on this site, and may be used to request deferment for any of your loans administered through Case Western Reserve University.
More Specific Information
Loans for Disadvantaged Students (loans disbursed after 7/1/93)
Federal Perkins (loans disbursed after 7/1/93)
Health Professions Student Loan (loans disbursed after 7/1/93)
Nursing Undergraduate Student Loan (loans disbursed after 7/1/93)
Nursing Graduate Student Loan (loans disbursed after 7/1/93)
Case Western Reserve University Student Loan (loans for school year 1991-1992 and after)
Primary Care Loans

For Information on Loans disbursed prior to dates specified, please contact Student Loans directly.



Loan for Disadvantaged Students Terms for loans received after 9/94

Annual Percentage Rate = 5%

Interest

The annual percentage rate of 5% will be the finance charge on the unpaid balance and will begin to accrue 12 months from the time a student ceases to be enrolled full-time.

Repayment

All amounts borrowed must be repaid within 10 years after the date on which repayment begins, unless that period is shortened or extended by specific provisons in the promissory note. The minimum monthly payment will be at least $15. It may be more if the amount borrowed is sufficient to require larger monthly payments.

Prepayment

The borrower can accelerate repayment of the loan without penalty. Accelerated Payments, however, can not take the place of regularly scheduled payments.



Loans for Disadvantaged Students Loan Deferment Information

Deferment Type and Time Limit

Grace Period 12 Months
Grace Period must immediately follow separation date.

Full-Time Student in Health Professions school eligible for participation in LDS program.

Fellowship directly related to the Health Profession which student prepared at Case Western Reserve University and is engaged in within 12 months after completion of advance professional training.

Internship or Residency
Active Duty as member of a uniformed service of the United States 3 Years



Federal Perkins Loan Terms for loans received after 9/94

Annual Percentage Rate = 5%

Interest

The annual percentage rate of 5% will be the finance charge on the unpaid balance, except that no interest shall accrue during any eligible deferment period.

Repayment

The first monthly payment of principal and interest will be due (9) nine months from the time a student ceases to be at least a half-time regular student. Amounts borrowed must be repaid within 10 years after the date on which repayment begins, unless that period is shortened or extended by specific provisons of the promissory note.
The minimum monthly payment will be at least $40 ($30 for borrowers who had Perkins loans prior to October 1, 1994). It may be more if the amount borrowed is sufficient to require larger monthly payments. The University may permit the payments to be less than $40 per month for a period of not more than (1) year where necessary to avoid hardship.

Prepayment
The borrower can accelerate repayment of the loan without penalty. Accelerated Payments, however, can not take the place of regularly scheduled payments.



Federal Perkins Loan Program

Deferments effective for Loans Made on/after 7/1/93

Deferment Type and Time Limit

Post Deferment Grace 6 Months
Grace 9 Months
Regular Student At Least Half-Time No Limit
Regular Student in a Graduate Fellowship Program No Limit
Teacher:

• in a school listed in the low-income school directory or
• Special Education Teacher or
• in a subject matter shortage area or
• Staff Member in the educational component of Head Start

Provider of early intervention services
Member of the U.S. Armed Forces in an area of hostilities
Peace Corp volunteer
ACTION volunteer
Law enforcement/corrections officer
Nurse
Medical Technician
Provider of services to high-risk children and their families
Unemployment
3 Years
Economic Hardship 3 Years



Health Professions Loan Terms for loans received after 9/94
Annual Percentage Rate = 5%

Interest

The annual percentage rate of 5% will be the finance charge on the unpaid balance, and it will begin to accrue 12 months after the student ceases to be enrolled as a full-time student.

Repayment

Amounts borrowed must be repaid within 10 years after the date on which repayment begins, unless that period is shortened or extended by specific provisons of the promissory note.
The minimum monthly payment will be at least $15. It may be more if the amount borrowed is sufficient to require larger monthly payments.
Prepayment

The borrower can accelerate repayment of the loan without penalty. Accelerated Payments, however, can not take the place of regularly scheduled payments.



Health Professions Student Loan Deferment Information

Deferment Type and Time Limit

Grace Period 12 Months
Grace Period must immediately follow separation date.

Full-Time Student No Limit
U.S. Public Health Services 3 Years
National Oceanic Atmospheric Administration 3 Years
Fellowship 2 Years



Nursing Undergraduate Loan Terms for loans received after 9/94

Annual Percentage Rate = 5%

Interest

The annual percentage rate of 5% will be the finance charge on the unpaid balance.

Repayment

The first monthly payment of principal and interest will be due (9) nine months from the time the student ceases to be at least a half-time regular student. Amounts borrowed must be repaid within 10 years after the date on which repayment begins, unless that period is shortened or extended by specific provisons of the promissory note.
The minimum monthly payment will be at least $15. It may be more if the amount borrowed is sufficient to require larger monthly payments.

Prepayment

The borrower can accelerate repayment of the loan without penalty. Accelerated Payments, however, can not take the place of regularly scheduled payments.



Nursing Undergraduate Loan Deferment Information

Deferment Type and Time Limit

Grace Period 9 Months
If a student ceases to be a full-time student pursuing an eligible course of study, but re-enters the same or another school as a full-time student within the grace period, the grace period is not considered to have begun.

Full-Time Student 10 Years, must be a Nursing Student
U.S. Public Health Services 3 Years



Nursing Graduate Loan Terms for loans received after 9/94

Annual Percentage Rate = 5%

Interest

The annual percentage rate of 5% will be the finance charge on the unpaid balance.

Repayment

The first monthly payment of principal and interest will be due (9) nine months from the time the student ceases to be at least a half-time regular student. Amounts borrowed must be repaid within 10 years after the date on which repayment begins, unless that period is shortened or extended by specific provisons of the promissory note.
The minimum monthly payment will be at least $15. It may be more if the amount borrowed is sufficient to require larger monthly payments.

Prepayment

The borrower can accelerate repayment of the loan without penalty. Accelerated Payments, however, can not take the place of regularly scheduled payments.



Nursing Graduate Loan Deferment Information

Deferment Type and Time Limit

Grace Period 9 Months
If a student ceases to be a full-time student pursuing an eligible course of study, but re-enters the same or another school as a full-time student within the grace period, the grace period is not considered to have begun.

Full-Time Student 10 Years, must be a Nursing Student

U.S. Public Health Services 3 Years