Hassle-Free Loan Repayment Simple & Interest Free
Set up recurring payments or gift a repayment to a specific repayer using the One Time Payment link.
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 are set up as a graduated schedule, which means that in the first years of repayment, when income is likely to be at its lowest, a borrower will make the smallest payments (see chart below).
| Repayment Year | Percentage of Total Loan | Annual Amount | Monthly Payment |
|---|---|---|---|
| Year 1 | 5% | $500 | $41.67 |
| Year 2 | 5% | $500 | $41.67 |
| Year 3 | 10% | $1,000 | $83.34 |
| Year 4 | 10% | $1,000 | $83.34 |
| Year 5 | 15% | $1,500 | $125 |
| Year 6 | 15% | $1,500 | $125 |
| Year 7 | 20% | $2,000 | $166.67 |
| Year 8 | 20% | $2,000 | $166.67 |