Southern California University of Health Sciences - Consumer Information Guide
SCU distributes this Consumer Information Guide which includes a notice of the availability of information required pursuant to specific requirements under the Higher Education Opportunity Act. Read this PDF and know SCUHS consumer information guide.
SCU distributes this Consumer Information Guide which includes a notice of the availability of information required pursuant to specific requirements under the Higher Education Opportunity Act. Read this PDF and know SCUHS consumer information guide.
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Federal Loan Repayment<br />
Prior Federal Student Loan Deferments (Postponing Payments)<br />
A student who is registered and attending classes at the <strong>University</strong> may have federal financial aid<br />
loans from previous colleges deferred. Deferment forms can be obtained from the lender if the<br />
loan is from another school. Return all deferment forms to a Financial Aid Counselor, who<br />
forwards the forms to the Registrar’s Office for processing to the holder <strong>of</strong> the loan. The loan<br />
holder makes the final determination to grant a deferment request. Students receiving federal<br />
financial aid funds may also obtain deferments for several reasons including serving in the Peace<br />
Corps, under the Domestic Volunteer Service Act and as a volunteer for a tax-exempt<br />
organization <strong>of</strong> demonstrated effectiveness in the field <strong>of</strong> community service.<br />
Receiving a deferment is not automatic; therefore, the student or parent(s) must apply for it.<br />
Borrowers must formally request a deferment through the procedures established by the” holder<br />
<strong>of</strong> their loan(s)”. Detailed information regarding deferments may be viewed at http://www2 ed<br />
gov/ <strong>of</strong>fices/OSFAP/DirectLoan/postpone html<br />
Loan Payment Calculator<br />
Loan payment calculators may be used by students or potential students to calculate monthly<br />
payments under the different student loan repayment plans available.<br />
The Repayment Estimator can be found at this website<br />
https://studentloansgov/myDirectLoan/mobile/repayment/repaymentEstimator this<br />
estimator allows students to estimate their payment under all available repayment plans.<br />
Sample Standard Repayment Calculator<br />
Detail<br />
Loan Amount $12,000<br />
Interest Rate 6.80%<br />
Repayment Summary<br />
Months in Repayment 120<br />
Monthly Payment $138<br />
Total Interest Payment $4,572<br />
total loan payment $16,572<br />
With the standard plan, a fixed payment amount is due each month until loans are paid in full.<br />
Monthly repayments will be at least $50, and have up to 10 years to repay<br />
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