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Student Loan Billing and Payment Office

Yale Student Loans (YSL) Annual Percentage Rate: 7.5%

Graduate & Professional International Loan (GPI) Annual Percentage  Rate: 7.75%

Initial Grace Period: 6 months for loans disbursed after June 30, 2001
Post Deferment Grace Period: none
Repayment Period: 120 months

Accrued Interest: Interest accrues from date of disbursement until repayment period begins. Interest accrues during a deferment or forbearance.

Deferment types (please refer to your promissory note for detailed information):

a) Enrolled as a student at least half time

b) Enrolled as a student in a Graduate Fellowship program

c) Unemployment (maximum deferment is 3 years)

d) Enrolled in a rehabilitation training program for disabled individuals

Additional deferment types for loans disbursed before July 1, 2003:

a) Serving an internship or residency program (maximum deferment is 2 years)

b) Member of the Armed Forces (maximum deferment is 3 years)

c) Temporarily totally disabled (maximum deferment is 3 years)

d) Parental leave (maximum deferment is 6 months)

e) Working Mother (maximum deferment is 12 months, available only for loans disbursed after June 30, 1987)

f) Active duty member of the National Oceanic and Atmospheric Administration Corps (maximum deferment is 3 years, available only for loans disbursed after June 30, 1987)

g) Full-time teacher in a public or nonprofit private elementary or secondary school in a teacher shortage area as defined by the Secretary of Education (maximum deferment is 3 years, available only for loans disbursed after June 30, 1987, see website for qualifying schools - http://studentaid.ed.gov/. Select the “Repaying” tab.

If you do not qualify for a deferment, you can apply for forbearance.