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Following are general terms for the various loans that we service:
DELC Loan (Dartmouth Educational Loan Corp)
Terms
Variable interest rate (generally set every July 1st)
Interest accrues while in school
Repayment
Begins three (3) months after student leaves Dartmouth
Minimum monthly payment of $50.00
Ten (10) years to repay the loan (120 months)
DELC is a separate corporation operated by Dartmouth College for the purpose of granting education loans and scholarships. The corporation complies with all of the Colleges policies related to Business Ethics.
Federal Perkins Loan
Terms
5% fixed interest rate
Interest will not accrue while in school, during a deferment or a grace period
Repayment
Begins nine (9) months after student leaves Dartmouth
Receives a six (6) month post-grace period after a deferment
Minimum monthly payment of $40.00
Ten (10) years to repay the loan (120 months)
Has cancellation benefits - see your loan note
Institutional Loans
Terms
5%, 6% or 7% fixed interest rate (depends on the type of loan given)
Interest will not accrue while in school
Repayment
Begins nine (9) months after student leaves Dartmouth
Minimum monthly payment of $30.00
Ten (10) years to repay the loan (120 months)
TELCO Loan (Tuck Educational Loan Corp)
Terms
Variable interest rate (generally set every July 1st)
Interest accrues while in school
Repayment
Begins three (3) months after student leaves Dartmouth
Minimum monthly payment of $20.00
Ten (10) years to repay the loan (120 months)
TELCO is a separate corporation operated by Dartmouth College for the purpose of granting education loans. The corporation complies with all of the Colleges policies related to Business Ethics.
