低利率

The 十大正规网赌平台 Low Interest Institutional Loan Program is a loan program which is administered through 十大正规网赌平台. The 金融援助 office packages this into qualifying students' award packages. This loan cannot be consolidated with any other loan program (including Federal loan programs) once the student leaves the College.

西方人使用 ECSI (an outside company) to administer the billing and other services for this loan, which includes processing payments and all deferments or cancellations for this loan.

Terms and Conditions of the 低利率 Loan
The Oxy low interest loan has a minimum monthly payment of $40 a month, which may increase based on the amount that was borrowed, 还款期限为10年. The interest rate is 5% for this loan and there is a $4.00 late payment fee assessed for every missed and/or late payment. 在离开十大正规网赌平台之前, each student with this loan must complete an exit interview and will then enter into repayment upon separating from the College. Once the borrower enters into repayment, they are given an initial grace period of 9 months. 另外, the program offers a grace period of 6 months after each deferment period.

延期规定
The Oxy low interest loan program offers the following deferment provisions (deferment forms can be found in the 形式 section of this website). During deferment, the borrower is not required to pay loan principle and interest does not accrue.

• In School Deferment: The borrower must be enrolled at least part-time at an eligible academic institution.
• Unemployment Deferment: A borrower may defer for up to three years if the borrower is seeking and unable to find full-time employment.
• Economic Hardship Deferment: A borrower is entitled to an economic hardship deferment for periods of up to one year at a time, 累计不超过三年.
• Temporary Total Disability Deferment: An affidavit from a qualified physician is required to prove disability. A borrower is temporarily totally disabled if he or she is, 由于生病或受伤, unable to attend an eligible school or to be gainfully employed during a reasonable period of recovery. 另外, a borrower may receive deferment for temporary total disability of a spouse or dependent if the spouse or dependent requires continuous nursing or other services from the borrower for a period of at least three months 由于生病或受伤.
• Public Service Deferment: A borrower is entitled to a public service deferment if:
  • 他们是联合国的成员.S. Army, Navy, Air Force, Marines, or Coast Guard
  • They are a member of the National Guard or the Reserves serving period of full-time active duty in the armed forces
  • They are an officer in the Commissioned Corps of the U.S. 公共卫生服务
  • They are a Peace Corps or Americorps volunteer or comparable service

忍耐的规定
Forbearance is usually a temporary postponement of payments. The borrower may alternatively request an extension of time allowed for making payments or the acceptance of smaller payments than were previously scheduled. Unlike deferment, interest continues to accrue during any period of forbearance. Forbearance may be granted to borrowers who are experiencing financial hardship, 健康状况不佳, 或者其他可以接受的原因. 也, forbearance may be authorized due to national military mobilization or other national emergency. Borrowers must request forbearance in writing, providing supporting documentation of the reason for forbearance. Forbearance  may be granted for a period of up to one year at a time but may not exceed a total of three years.

取消条款
这笔贷款不能取消.

Discharge (complete loan cancellation) Provisions
A Oxy low interest loan (in its entirety or the remaining balance) can be discharged due to Death or Total and Permanent Disability. In cases of Death, Occidental must receive an original or certified copy of the death certificate. Total and permanent disability is the inability to work and earn money because of an injury or illness that is expected to continue indefinitely or to result in death. The borrower must submit a physician’s certification of total and permanent disability. The physician must certify that the borrower is 100% disabled according to the Perkins Loan Program definition of disability.

违约的氧贷款
If a borrower defaults on their Occidental loan, the  loan will negatively impact their credit report and the borrower is eligible to receive the following penalties:

• Remaining loan principal balance is accelerated, making the entire remaining loan amount payable immediately.
• The loan is sent to a collection agency after acceleration, where the borrower will incur all collection costs.
• The borrower becomes ineligible for deferments
• A hold will be placed on your academic transcript from 十大正规网赌平台.