1980-1981 Academic Catalog

40 Cedarville College ment as at least a half-time undergraduate student. Continuing students must be in good standing and enrolled as at least a half-time undergraduate student. The Statute governing the NDSL program does not restrict the amount which may be granted per academic year. However, the aggregate of all loans for all years from the NDSL funds may not exceed: (1) $10,000 in the case of any gradu– ate or professional student, including any loans from such funds made to such person before he or she became a graduate or professional student; (2) $5,000 in the case of a student who has successfully completed two academic years of a program of education leading to a bachelor's degree, but who has not completed the work necessary for such a degree, and including any loans from such made to that person before he or she became such a student; and (3) $2,500 in the case of any student who has not completed two academic years of a program of education leading to a bachelor's degree. Repayment begins 9 months after graduation or when a student leaves school for other reasons. You may be allowed up to 10 years to pay back the loan. This would depend on the aggregate amount borrowed. During the repayment period you will be assessed 3 percent interest on the unpaid balance of the loan principal. No payments are required for up to three years while you serve in the Armed Forces, Peace Corps, or VISTA. The Financial Aid Director will explain to student applicants about loan cancella– tion provisions for borrowers who go into certain fields of teaching or specified mil– itary duty. Commercial Payment Plans for Educational Costs This plan enables students and parents to pay education expenses in monthly installments. Low cost deferred payment programs are available through nation– wide organizations specializing in education financing. All plans include insurance on the life of the parent, plus trust administration in event of the parents' death or disability. Agreements may be written to cover all costs payable to the school over a four year period in amounts up to $16,000. Parents desiring further information concerning these deferred payment· plans should write the Tuition Plan, Concord, New Hampshire 03301. Cedarville College reserves the right to withhold student transcripts (or non– payment of school accounts, loans directly related to educational expenses, and overpayments of any federal or state grants which a student may be obligated to repay based on federal or state regulations.