Yes, you’ll be paying interest each month while you are in school. Loan interest will begin to accrue as soon as you are in school. However, you can always make extra payments if you wish before the repayment period starts post-graduation. Those payments will reduce your loan balance. We report your in-school interest payments to credit bureaus. On time payments should help to improve your credit score.
Articles in this section
- You say your loans are based on ‘academic progress.’ Does this mean it is difficult to get a loan as a freshman or sophomore?
- Will this affect my credit score?
- Parents FAQ
- What is a Bursar Hold and how do I get rid of it?
- How is the loan disbursed?
- What are the steps in the loan process?
- Who can borrow?
- Can you lend to international schools / programs?
- What things can I use my loan for?
- Can I borrower to pay past due tuition or a Bursar Hold?