Recycle the Fund Repay With Purpose
When a borrower repays their loan, funds recycle to empower another student in need. With JELF's consistent 99% repayment rate, borrowers are continuously contributing to the next generation!
Please use JELF's secure forms to set up recurring payments, or gift a repayment to a current repayer.
Let us know what you need. We are here to help!
How does repayment work?
When does it begin?
Repayment of JELF loans begins 6 months after a student's final graduation, termination of course of study or a status change (i.e. from a full-time to a part-time student).
How long is repayment?
JELF generously offers an eight-year repayment period (although loans can always pay back sooner with no penalty).
What are payments like?
Repayments follow a graduated schedule, allowing borrowers to make smaller payments during their initial repayment years when their income is typically lower. For example, if a student had borrowed $20,000 ($5,000/year for 4 years), this chart illustrates what their repayment amounts would look like over the 8-year period.
| REPAYMENT YEAR | PERCENTAGE OF TOTAL LOAN | ANNUAL AMOUNT | MONTHLY PAYMENT |
|---|---|---|---|
| Year 1 | 5% | $1,000 | $83.33 |
| Year 2 | 5% | $1,000 | $83.33 |
| Year 3 | 10% | $2,000 | $166.67 |
| Year 4 | 10% | $2,000 | $166.67 |
| Year 5 | 15% | $3,000 | $250.00 |
| Year 6 | 15% | $3,000 | $250.00 |
| Year 7 | 20% | $4,000 | $333.33 |
| Year 8 | 20% | $4,000 | $333.33 |