Clarence Isham Pi Kappa Alpha Student Loan Repayment
As outlined in the promissory note(s) which you signed for
your Pi Kappa Alpha Student Loan(s), the repayment procedures
and your obligations are as follows:
Simple interest at the rate of 0% per year for the first
three (3) repayment years and 4% per year thereafter, on the
total loan or unpaid balance of the loan commences on the first
day of the month following the date of graduation, withdrawal,
or leave of absence from Rensselaer. Repayment is made in
quarterly installments beginning with the date given on the
Exit Interview Agreement in the sum of at least fifty dollars
($ 50.00). The quarterly installment will be increased during
the fourth and fifth years during the repayment period to cover
the interest charges. The maximum repayment period is therefore
determined by the total amount of your loan. The repayment
period may not exceed five years, except for those borrowers
who receive deferment (see deferred payments).
A full or partial repayment of the loan at any time, or a
payment in excess of the amount due at a given time in
accordance with the repayment schedule, is permissible.
Repayment ahead of schedule is urged, when possible, both to
save interest payments for the borrower and to make the money
available to other needy students.
A Pi Kappa Alpha Student Loan borrower serving in the Armed
Forces of the United States, the Peace Corps, or VISTA, or
attending another institution of higher education as a
full-time student, may have installments on the principal
amount of the loan deferred. Deferment of principal payments
will be granted up to a maximum of three years of military,
Peace Corps, or VISTA service.
A Pi Kappa Alpha Student Loan borrower who returns to
Rensselaer as a full-time student may have installments
deferred and interest will not accrue on the loan while he is
Requests for deferment must be made to the Student Loan
section, Bursar's Office at the time payment is due and should
be accompanied by a letter of certification of your service or
attendance at an institution of higher education from the
When the deferment period expires, the borrower will return
to the exact repayment status he was in when the deferment
Billing for this program is handled by Greek Bill.
2512 Artesia Blvd, Suite 240
Redondo Beach, CA 90278
Pika Student Loans are generally not dischargeable in a
bankruptcy during the first seven (7) years in a repayment
Diplomas, grades, and transcripts will be held in the event
the account is in default.