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ERIC Number: ED242260
Record Type: Non-Journal
Publication Date: 1984-Feb
Pages: 246
Abstractor: N/A
Reference Count: N/A
A Guide to the Repayment of Multiple National Direct Student Loans.
McAlvey, Warren
A guide for college administrators who are responsible for loan collection in the repayment of National Direct Student Loans (NDSL) is presented. Attention is focused on the difficulties created by loans with different terms and conditions. Repayment terms are discussed, and formulas are presented that are necessary to calculate the number and amount of payments and dollar cost of the loan to the student. After tracing the legislative history of the NDSL program as it relates to repayment, the minimum repayment requirements are reviewed. Regulations pertaining to National Defense Student Loans and NDSL are explained, and the text of the relevant NDSL regulations are appended. Descriptions are included on how to establish the length of the repayment period and the payment size as well as how to compute the required disclosure information. Both 10-year repayment periods and less than 10-year repayment periods are discussed. Billing procedures are also covered. Through the use of tables, an administrator will be able to calculate the following quickly: the number of payments required; the amount of interest to be paid; and the size of each payment necessary to retire all loans in the minimum time allowed. (SW)
Office of Student Financial Assistance, Student Financial Assistance Training Program, 1776 Massachusetts Avenue, N.W., Suite 100, Washington, DC 20036.
Publication Type: Guides - Non-Classroom; Numerical/Quantitative Data; Legal/Legislative/Regulatory Materials
Education Level: N/A
Audience: Administrators; Practitioners
Language: English
Sponsor: N/A
Authoring Institution: Office of Student Financial Assistance (ED), Washington, DC.
Identifiers - Laws, Policies, & Programs: National Direct Student Loan Program