Loan Repayment
No interest is charged or accrued while you are in school. The first payment becomes due three months after completing your degree or immediately upon withdrawal or dropping below full-time status. Interest is at an annual fixed rate of six percent. Interest begins to accrue as soon as your first payment is due. Loan amounts were increased in January 2022. Repayment amounts and number of payments are according to the following schedule if signed after January 2022:
Loan Amount
Monthly Payment
Number of Payments
Undergraduate Maximum
​
$16,0000.00
​
​
Graduate Maximum
​
$24,0000.00
$175/month
​
​
​
​
$250/month
123 Payments.
132 Payments
Making Payments
CSLF Loans- Make check payable to THE CANTON STUDENT LOAN FOUNDATION.
NCSL Loans- Make check payable to THE STUDENT LOAN FOUNDATION OF NORTH CANTON.
PAYMENT CHECKS BETWEEN THE 2 FUNDS CANNOT BE COMBINED. WE MUST RECEIVE SEPARATE CHECKS FOR EACH PAYMENT.
​
A monthly billing statement ( or 2 if you borrowed from both funds) will be mailed to you beginning the month your first payment becomes due (unless you are signed up for paperless). A payment slip and a return envelope will be included with each billing statement. Mail your check along with the payment slip in the return envelope which is enclosed with the billing statement. Statements will be mailed by the 10th of each month, and payments must be received in our office before 4:00 pm on the last business day of each month.
Please include your account number on your check- so we know which account the loan payment should be applied to.
​
You may also pay online using your credit card or debit card. A 3% fee is charged by the payment processor for using this method of payment. Click here to make an online payment. Payments must be made before 4:00 pm on the last business day of the month.
Automatic Payment Option
Need Help?
Email: info@cantonstudentloan.org
Phone: 330-493-0020.