Primary Care Loan (PCL) Borrowers
The Primary Care Loan is a serious legal obligation. Therefore it is extremely important that you understand your rights and responsibilities.
Borrowers’ Rights
- Written information on loan obligations.
- Copies of all promissory notes and the return of the note when the loan is paid in full.
- Information on interest rates, fees, the balance owed on loans and a loan repayment schedule.
- I have a right to twelve-month ” grace period” before repayment begins.
- I have the right to prepay all or any part of my loans at any time without penalty.
- I understand that cancellation will be granted in the event of death or permanent disability.
- I have a right to a deferment of principal and interest repayments if certain conditions exist.
Borrowers’ Responsibilities
- I understand that the annual percentage rate of 5% will be the finance charge based on the unpaid balance and it will begin to accrue at the termination of the grace or other deferment period.
- I fail to repay any loan as agreed, the total loan may become due and payable immediately and legal action could be taken against me.
- I understand that I will promptly answer any communication fromSWAG视频 regarding the loan.
- I understand I may repay at any time. I further understand that making such payments will reduce future interest.
- I understand that if I cannot make payments on time, I must contact SWAG视频 to make arrangements.
- I authorizeSWAG视频 to contact any school, which I may attend, to obtain information concerning my student status, my year of study, my dates of attendance, graduation, or withdrawal, my transfer to another school, or my current address.
- I understand that should my loan repayments become delinquent, or if I have any other outstanding balance owed the University, the University will withhold transcripts, Board Scores and letters of recommendation until the loans or other debts are again current.
- I understand that I must, without exception, report any of the following changes to the Western University of Health Sciences (SWAG视频), University Financial Services & Treasury, College Plaza, Pomona, CA 91766, and (909) 469-5403.
- If I withdraw from school.
- If I transfer to another school
- If I drop below half-time status.
- If my name should change (for example, because of marriage).
- If my address changes.
- If I join the military service, Public Health Service, or Peace Corps.
Truth in Lending Statement
The Primary Care Loan(s) that you have received, together with an annual percentage rate of 5% on the unpaid balance, is repayable in accordance with a repayment schedule approved by the school and the Secretary of Health and Human Services, and agreed by you, the maker, at the time you cease to pursue an eligible course of study at the school. The finance charge begins to accrue at the termination of the deferment period.
The amount financed (or the total of all loans due) is repayable in accordance with the provisions of the promissory note and the repayment schedule to be attached thereto, and is subject to provisions relating to delinquency and default charges specified in the promissory note.
The maker may, at his/her option, and without penalty, prepay all or any part of the principal plus the accrued interest at any time.
Repayment Schedule (5% Interest)
| Loan Amount | Payment Per Month | Payment Months | Payment Years | Total Interest Paid | Total Payment |
| $10,000 | $106.40* | 120 | 10 | $2,768.40 | $12,768.40 |
| $15,000 | $159.10 | 120 | 10 | $4,092.00 | $19,092.00 |
| $20,000 | $212.13 | 120 | 10 | $5,455.60 | $25,455.60 |
| $25,000 | $265.16 | 120 | 10 | $6,819.20 | $31,819.20 |
| $30,000 | $318.20 | 120 | 10 | $8,184.00 | $38,184.30 |
| * Minimum repayment $40.00 per month – this represents an estimated repayment schedule. | |||||
Lender
Western University of Health Sciences
Attn: Bursar’s Office
309 East Second Street
Pomona, CA 91766
(909) 469-5403
Billing Servicer
ECSI