Wisconsin Administrative Code
Higher Educational Aids Board
Chapter HEA 13 - Teacher education loan program
Section HEA 13.07 - Terms of repayment

Universal Citation: WI Admin Code ยง HEA 13.07

Current through August 26, 2024

(1) The borrower shall repay the loan if not employed as a full-time teacher in the eligible school district. Repayment shall be required of borrowers who are employed for periods of time but who do not complete their forgiveness within the time allowed.

(2) The minimum monthly payment shall be $50 including principal and accrued interest. Accrued interest shall be paid first each month from the payment received. The board shall determine the monthly repayment schedule, although the borrower may request a schedule with a higher monthly payment.

(3) The borrower shall repay the loan within a maximum of 6 years not counting periods of deferment granted by the board. Interest shall not accrue during periods of deferment authorized by the board.

(4) The borrower may prepay any or all of the loan without penalty whether the borrower is in school, forgiveness, repayment, or deferment.

(5) If the borrower dies or becomes totally and permanently disabled, all obligation to make any further payment of principal and interest on the loan shall be canceled.

Disclaimer: These regulations may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.