A long-term, low-interest subsidized loan awarded by WVU. It has a fixed 5% interest rate, and a nine-month grace period between the time you graduate or leave school and the time you begin repayment. Students who accept this loan must complete a promissory note at https://www.ecsi.net/prom31/ using their student FAFSA PIN number.
Cancellation provisions are available in some situations which may, under certain circumstances, release the borrower from the obligation to repay the loan in full. The rate of cancellation is typically 15% for the first and second years, 20% for the third and fourth years and 30% for the fifth year; however, rates can vary.
For more information, contact the WVU Loan Officer at the Office of Student Accounts at (304) 293-2809. Cancellation forms are available at www.ecsi.net.