TOTE Repayment Information
Students must begin to repay their loans six months after graduation, withdrawal or drop below full-time status from school. Repayment plans are automatically withdrawn from a checking or savings account. Full repayment of the outstanding debt can be made at any time.
Repayment deferments are granted if a student provides proof of continuing full-time attendance in school, military duty, or missionary work.
The Fine Print
If a loan recipient fails to make a payment on time:
- 30 days past due – a reminder email will sent to the recipient.
- 60 days past due – a letter will be mailed to the recipient and co-signer.
- 90 days past due – a certified letter will be mailed to the recipient and co-signer.
- 120 days past due – the account will be referred to a debt collection agency or legal action will commence.