Loan Repayment

WHEN IS MY FIRST PAYMENT DUE?
An annual $100 payment is due every summer. WDJCLP will send you a payment invoice as well as a request for updated contact information.

WHEN DO MONTHLY PAYMENTS BEGIN?
Monthly repayment begins six months after either graduation or after you have terminated your course of study.  For example, if you graduate in June, your first payment will be due December 1st.  WDJCLP will send you a loan statement.

HOW LONG CAN I TAKE TO REPAY?
The repayment period is no longer than ten years after graduation.

HOW MUCH WILL I PAY EACH MONTH?
WDJCLP’s repayment program is graduated so that in your first years after graduation, when your income is likely to be at its smallest, you will make the smallest payments.

CAN I PAY MORE THAN WHAT IS REQUIRED?
Yes.  You are welcome to accelerate your repayment as much as you would like.  There is no penalty for paying back your loan early.

WHAT SHOULD I DO IF I CANNOT MAKE THE MONTHLY PAYMENT?
Contact us immediately, before your loan becomes past due.  We will try to work with you to determine a possible solution.

WHAT HAPPENS WHEN MY LOAN IS PAID OFF?
WDJCLP will send you a letter with your promissory note(s) marked “Paid in Full”.  You will then join the ranks of WDJCLP’s alumni.  We hope you will consider becoming a WDJCLP donor so that you can lend a helping hand to the next generation.