Repayment Plans

The following chart shows typical monthly payments and interest charges for 6.8 percent loans of varying amounts.

Typical Repayment Plans

Total Indebtedness # of Payments Monthly Payment
$3,000 120 $50.00
$5,000 120 $58.00
$10,500 120 $121.00
$15,000 120 $173.00
$40,000 120 $460.00

All students who are first time borrowers must complete an entrance interview. Student Borrowers who drop below half time, totally withdraw, or graduate must complete an exit interview.

Deferments and Loan Terms

You may be eligible for a loan deferment if you are enrolled at least half-time at a post-secondary school, study in an approved graduate fellowship program, experience economic hardship, or are unable to find full-time employment. Contact your lender for details about all of the various repayment options.

Exit Loan Counseling

Exit counseling is conducted with each borrower either in person or by electronic means. The exit counseling informs the borrower of the average anticipated monthly repayment amount based on the average indebtedness of the student borrowers who have attended HBU;  available repayment options, debt-management strategies, deferment, forbearance and discharge options. Student borrowers must provide current information concerning name, address, social security number, references, and driver’s license number and state of issuance, as well as the borrower’s expected permanent address, the address of the borrower’s next of kin, and the name and address of the student borrower’s expected employer, if known. The student borrower is made aware of the availability of the Student Loan Ombudsman’s office and of the availability of Title IV loan information in the National Student Loan Data System.

Information included in this publication is subject to change. Contact the Office of Financial Aid with any questions you may have about this information.