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PLUS/PLUG Loan Repayment Options
Dear Borrower:
Parent PLUS and PLUS Graduate (PLUG) loans first disbursed on or after July 1, 2008 have a new
option regarding the repayment start date. Repayment will begin 60 days following the last
disbursement unless you choose to delay repayment for 6 months after the student associated to the loan
withdraws, graduates, or drops to less than halftime.
In either case, interest begins accruing on the date of the first disbursement. Unpaid interest that accrues
between the first disbursement and the time the loan enters repayment will be capitalized (added to the
principal balance).
If you select the delayed repayment option, please complete the section below and return the form to us
for processing. We have enclosed a self-addressed, stamped envelope for your convenience.
If you have any questions or need additional information, please contact:
NMSL Loan Servicing Department
505-345-3371 or 1-800-279-5063 ext. 1472
Delayed Repayment Benefit
______I choose to begin repayment on my parent PLUS or PLUS Graduate loan 6 months following the
date the associated student withdraws, graduates, or drops to less than halftime status. I understand that
I have the option to pay accruing interest and that unpaid interest will be capitalized on a quarterly basis.
The anticipated graduation date of the student is _____________________________________________
I will keep NMSL apprised of changes to the student’s enrollment status.
Benefiting Student Name SSN
Borrower Signature Account No. or SSN
New Mexico Student Loans
PO Box 27020 505-345-3371 1-800-279-5063
Albuquerque, NM 87125-7020 fax: 505-344-0592 www.nmstudentloans.org