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University-administered loan payment

UTFL Repayment Information


You may prepay all or part of your unpaid loan balance, plus any accrued interest, at any time without penalty.

Interest Rate

For interest rates on this loan type, please refer to your promissory note or consult this office. Effective August 1, 1995, the interest rate is 7% per year.

Grace Period

There is a 9 month grace period on this loan. Iterest does not accrue on the loan and repayment is not required within this time. The grace period ALWAYS begins on the date you cease to be at least a half-time student.Payments are due by the 15th of each month.


The total amount awarded plus accrued interest must be repaid within a ten-year period.

During the repayment period, your repayment amount is based upon the principal balance as listed below. The payment may be for an amount greater that $50.00 per month so that the repayment period does not exceed 120 months.

Principal Balance Installment
$0 - $500 $20.00
$501 - $1,000 $30.00
$1,001 - $1,500 $40.00
$1,500 + At Least $50.00

Late Charges

Under the terms of your University Trust Fund Student Loan promissory note, the school will assess a charge if you fail to make an installment payment when due or to file "timely" evidence of entitlement to deferment. Late charges may not exceed 20% of the monthly payment. In order to avoid late charges as specified in the note, payments or forms for deferment in lieu of such payments, must reach the school on or before the due date or any scheduled repayment installment in accordance with the repayment schedule you received before leaving school.


Once the repayment period begins, you may be eligible for deferment during which interest ceases to accrue on the loan(s) and repayment of principal is not required. When you transfer from one accredited school to another accredited school as at least a half-time student, payments will be deferred. To claim a student deferment, a Certification of Deferment Status Form must be completed and certified by the school you are attending and submitted to the Financial Collections Office at UMD.

Death or Disability

Should you die, the unpaid balance of your loan and accrued interest thereon is cancelled. To claim cancellation, the executor of your estate must submit a death certificate to the Financial Collections Office at UMD.

Permanent and Total Disability:

Should you become unable to engage in any substantial gainful activity because of a medically determinable impairment, the unpaid balance of your loan and accrued interest thereon may be cancelled. To claim this entitlement, you must submit a formal request for loan cancellation and a physician's statement which certifies the date of onset, nature, and extent of your disability along with copies of all medical records pertinent to the disability to the Financial Collections Office at UMD.

Additional Information

Any questions regarding repayment of your University Trust Fund Loan(s) not answered on this site should be directed to: University of Minnesota Duluth, Financial Collections, 129 DAdB, 1049 University Drive, Duluth, MN 55812-3011. Telephone: 218-726-8103. Email: