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Rensselaer Polytechnic Institute
Rensselaer Polytechnic Institute
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The Graduate School, Rensselaer Polytechnic Institute

Division of Finance

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Postponement Privileges On Loans Disbursed Before July 1, 1993

Ideally, a borrower who is teaching or serving in some capacity qualifying him or her for cancellation benefits should be able to cancel the loan principal and interest coming due each month or quarter as the service is performed. This, however, is not possible. The regulations governing cancellation benefits stipulate that cancellation benefits can be granted only after a complete year's service has been performed.

The government therefore allows borrowers to postpone their regularly scheduled payments when those same payments will be cancelled at the end of the academic or service year. This prevents the borrower's account from going past due and keeps the borrower from being forced to make payments on amounts that later will be cancelled.

To gain the benefits of the postponement. process, the borrower should submit a Postponement Request at the beginning of the academic year or service period, or whenever a bill comes due that should be postponed. This postponement request must be certified by the administrative section of the borrower's military unit or by an official of the borrower's place of employment.