funded aid programs. The assumption behind the law is that a student receiving all âFâ grades probably did not complete the semester, but rather walked away from school without officially withdrawing.
Once you have graduated or have stopped attending for two consecutive fall and spring semesters, the Student Financial Aid Office will send you information on how to complete an Exit Interview. This is a requirement for student borrowers and updates contact information with your lender. Please note that you are responsible for repayment whether or not you complete the Exit Interview.
Sample loan repayment schedule based on 6.8%
| Payment # | Payment Amount | Principal | Interest | Cumulative Principal |
|---|---|---|---|---|
| Cumulative Interest Remaining Amount Owed | ||||
| - | - | $5500 | ||
| 1 | $63.29 | $32.12$31.17 | $32.12$31.17 | $5467.88 |
| 2 | $63.29 | $32.31$30.98 | $64.43 | $62.15$5435.57 |
| 3 | $63.29 | $32.49 | $30.8 | $96.92 |
| 4 | $63.29 | $32.67 | $30.62 | $129.59 |
| 5 | $63.29 | $32.86 | $30.43 | $162.45 |
| 6 | $63.29 | $33.04 | $30.25 | $195.49 |
| 7 | $63.29 | $33.23 | $30.06 | $228.72 |
| 8 | $63.29 | $33.42 | $29.87 | $262.14 |
| 9 | $63.29 | $33.61$29.68 | $295.75 | $273.86 |
| 10 | $63.29 | $33.8 | $29.49 | $329.55 |
| 11 | $63.29 | $33.99 | $29.3 | $363.54 |
| 12 | $63.29 | $34.18 | $29.11 | $397.72 |
| 13 | $63.29 | $34.38 | $28.91 | $432.1$390.67 |
| 14 | $63.29 | $34.57 | $28.72 | $466.67 |
| 15 | $63.29 | $34.77 | $28.52 | $501.44 |
| 16 | $63.29 | $34.96 | $28.33 | $536.4 |
| 17 | $63.29 | $35.16$28.13 | $571.56 | $504.37 |
| 18 | $63.29 | $35.36 | $27.93 | $606.92 |
| 19 | $63.29 | $35.56 | $27.73$642.48 | $560.03 |
| 20 | $63.29 | $35.76 | $27.53 | $678.24 |
| Payment # | Payment Amount | Principal | Interest | Cumulative Principal |
| Cumulative Interest Remaining Amount Owed | ||||
| 21 | $63.29 | $35.97 | $27.32 | $714.21 |
| 22 | $63.29 | $36.17$27.12 | $750.38 | $642 |