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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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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:

Normal Circumstances

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.

Deferred Payments

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 in attendance.

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 appropriate official.

When the deferment period expires, the borrower will return to the exact repayment status he was in when the deferment started.

Billing

Billing for this program is handled by Greek Bill.

Greek Bill
2512 Artesia Blvd, Suite 240
Redondo Beach, CA 90278
(800)457-3816

Bankruptcy

Pika Student Loans are generally not dischargeable in a bankruptcy during the first seven (7) years in a repayment status.

Holds

Diplomas, grades, and transcripts will be held in the event the account is in default.