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Advisory: Florida Tech Classes Canceled, Offices Closed Tuesday, Nov. 3

All Florida Tech classes and university activities are canceled and all offices will remain closed Tuesday, Nov. 3, as campus cleans up buildings impacted from severe weather. Note that power has not yet been restored to all parts of campus. Additionally, water pressure appears low; as a precautionary measure, it is advisable to boil water before ingesting.

Only identified essential employees contacted by their supervisors should report to campus Tuesday. All residential students should limit their activities.

All normal operations, including classes, are anticipated to resume Wednesday, Nov. 4. Watch official university communications channels for updates.

Smiling Grads

Loan Repayment

Loan Repayment

Students who use loans to help pay for college expenses are expected to repay those funds, sometimes with interest. Federal student loans, such as the subsidized and unsubsidized Stafford loans, and Parent and Graduate PLUS loans, are typically deferred while a student is enrolled at least half-time in a degree-seeking program at a Title IV eligible school. Once they are no longer enrolled at least half- time, their loan will be in grace for 6 months or withdraw from the university.  For most students, this means they don't have to begin making payments on their student loans until 6 months after they graduate.

Below is a sample payment schedule for different student loan repayment plans. Federal Student Aid has a Loan Simulator that students may use to estimate their payments under the different payment plans.

 

For information on private loan repayment (loans other than Federal student loans), please contact the financial institution from which you have borrowed or wish to borrow.

Repayment Type Payment amount Duration  Total Paid
Standard $318/month 120 months $38,184
Graduated $180-$540/month 120 months $40,294
Pay As You Earn (PAYE) $182-$318/month 161 months $42,654
Income-Based Repayment (IBR) $272-$318/month 125 months $38,727
Income-Contingent Repayment (ICR) $233-$274/month  168 months  $42,138
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