What Will My Loan Payments Be?
The loan is interest-free until December 31, 2022. Furthermore, no principal repayments are required during this period (unless you are seeking to repay 75% to qualify for the 25% forgiveness feature).
If you choose to extend the loan beyond this date, interest of 5% applies during the extension period. We will provide you more information on interest payments during the extension period once the program is in place.