Repayment of Your Loan
Beginning in the fourth month after the student’s graduation, the student’s withdrawal from their university, or the student’s failure to comply with the rules set forth in the Millhollon Educational Trust Estate Note, the note will become due and payable.
The student has the option to repay the note in full or an installment basis, with an annual interest rate of three percent (3%). All unpaid balances of the principal and interest shall be due no later than ten (10) years from the date of the last note.
The full amount of the note plus interest will become due in full, immediately, if the student defaults.
The loan is a signature loan between the student and the Trust, and it is the student’s legal and moral obligation to repay the loan in a timely manner.