Loan Management FAQ
Loan payments are calculated by using anticipated earnings data published for the student's degree and school two years after graduation, deducting a standard living allowance, and then calculating a monthly payment of 15% of remaining anticipated discretionary income. Payments are scheduled over the number of months required to repay in full. During repayment, Foundation loans do not accrue fees or interest.
Yes. The borrower must fill out an Authorization Form for Direct Payments (ACH/Debit) and submit it to the Foundation, along with a voided check from the relevant bank account. Payments will be deducted from the account automatically on the 15th day of each month, or the first business day after the 15th if it falls on a Saturday or Sunday.
To view loan balances, borrowers may log into their account at any time using The Scholarship Foundation of St. Louis’ online student portal. Borrowers will be required to input the email address currently on file with The Scholarship Foundation of St. Louis.
The Scholarship Foundation of St. Louis offers several options for borrowers to make payments through The Scholarship Foundation of St. Louis’ online student portal. These options include paying by credit or debit card, using Direct Withdrawal, or mailing a check or money order.
Types of deferments for borrowers:
- In-School Deferment: enrolled in a postsecondary program at least half-time. Complete an Educational Deferment Request.
- Financial Hardship Deferment: if experiencing prolonged unemployment or a medical condition. Complete a Student Loan Repayment Assessment.
- Temporary monthly payment reduction.
No. A loan recipient who takes at least six credit hours of course work each semester receives a repayment deferment. A student must verify eligibility for the deferment at the end of each semester by submitting to the Foundation one of the following three documents: a paid tuition receipt for the current semester, a letter from the institution’s registrar’s office confirming the student’s enrollment for the necessary number of hours, or an academic transcript.
Borrowers who graduate and submit a signed final promissory note with The Scholarship Foundation of St. Louis will receive a one-year grace period before they must start repaying their loans.
Students who stop attending school before receiving a degree or do not submit a signed final promissory note after degree completion must start repaying their loans immediately.
Fill out the Change of Information form.
