When does repayment begin and end?
- Repayment begins following a twelve-month grace period after you cease to be a full time student.
- Interest at 5 percent is computed on the unpaid principal balance and begins to accrue upon expiration of your grace period unless you are eligible to defer payment.
- Loans are repayable over a period of not less than ten years nor more than twenty five years, at the discretion of the institution.
May payment of my PCL be deferred?
Yes.
- Up to four years in an eligible primary health care residency program.
- Up to three years as a volunteer under the Peace Corps Act practicing in an eligible primary health care activity.
- Up to three years as a member of a uniformed service. To be eligible for deferment, you must be on sustained full-time active duty practicing in an eligible primary health care activity in the Army, Navy, Air Force, Marine Corps, Coast Guard, National Oceanic and Atmospheric Administration Corps or the U.S. Public Health Service Commissioned Corps.
- For periods of advanced professional training in primary health care.
Is a PCL eligible for consolidation?
PCL is not eligible for consolidation because of the service obligation.
What happens to my PCL in the event of death or disability?
Your obligation to repay the loan will be canceled upon receipt of the required documentation in the event of your death or permanent and total disability.