Catalog of Abilene Christian College, 1972-1973 Page: 12
40 p. : ill. ; 23 cm.View a full description of this book.
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The maximum per academic year is
$1,500, provided the amount does not
exceed educational costs, less other
aid received. The total outstanding
principal balance may not exceed
$7,500 at any time.
An insurance premium of 1/4 of 1
percent is to be paid only once, with
no subsequent adjustments. Loans
are made at an annual percentage rate
of interest not to exceed 7 percent. If
your adjusted family income is less
than $15,000, the Federal Government
will pay the total interest while
you are in school and during authorized
periods of deferment. All borrowers
pay the full interest during the
repayment period.
Repayment begins between 9 and
12 months after you complete your
course of study or leave school, and is
normally scheduled for from 5 to 10
years. However, there is a minimum
monthly payment requirement of $30
that could reduce this period. Prepayment
is allowed without penalty.
Deferments are allowed up to three
years for military service, Peace Corps,
or Vista. Payment may also be deferred
during any period that you return
to school on a full-time basis.
You are encouraged, however, to
make payments during such periods.
This loan may be used only for educational
purposes. You are obligated
to keep your lender informed of
changes in address, school, or student
status. After graduation or withdrawal
from school, you must contact the
lender and arrange for repayment. The
maximum grace period before beginning
to repay the loans is 12 months.
However, it is to your advantage to
pay off this loan as soon as possible.
Interest costs are sharply reduced if
the loan is partially or fully prepaid.
Hinson-Hazlewood Texas
Loan Program (T.O.P.)
Eligibility:
Since this plan is a state-initiated
program, it is open only to legal resi12dents of Texas. Too, loans may be
made only when there appears to be
inadequate family resources to meet
the educational expenses of the applicant.
Applications for TOP loans are
made through the Dallas Campus of
Abilene Christian College and are approved
or disapproved by the Financial
Aid Officer.
Undergraduate: up to $1,500 a year;
$5,000 maximum.
Repayment:
Begins nine months after you cease
to be enrolled in college for at least a
half-time course load. Repayment
periods may extend to 10 years at an
interest rate of 7% per year. Minimum
payment required: $30 a month
plus interest payable to the Texas Opportunity
Plan Loan Fund, which is
administered by the Coordinating
Board, Texas College and University
System.
ACC Loan Program
Availability:
For full-time students as prescribed
by the Registrar's Office.
Amounts:
Undergraduates and graduates: $1,500
a year maximum; $6,000 total.
Scholastic qualifications:
Undergraduates must maintain a
2.0 grade point average.
Repayment:
To be worked out by the Business
Office upon your graduation or withdrawal
from ACC.
GRANT PROGRAM
Education Opportunity Grants
Availability:
Outright grants of federal assistance
are available to full-time undergraduate
college students of exceptional
financial need who show academic
or creative promise.
Amounts:
Varies from $400 to $1,000 a year
and may be no more than one-half
the total assistance given to you.
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Abilene Christian College. Catalog of Abilene Christian College, 1972-1973, book, 1972~; Abilene, Texas. (https://texashistory.unt.edu/ark:/67531/metapth46044/m1/14/: accessed May 7, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Abilene Christian University Library.