Repayment Process
Repaying your loan can be confusing. At IDAPP, we’re here to make things a little easier. It all starts with a grace period of six months. During this period, you’re not required to make any payments. The grace period begins on the day after your school status changes to less than half time, including leaving school entirely or graduating.

At the beginning of your grace period, IDAPP will send you an estimated repayment schedule, including your:

• Account number
• Monthly payment amount
• Interest rate
• Principal balance
• Estimated interest charges
• Number of payments
• Due date
• Payment mailing address

After six months, you’re required to make monthly payments on the principal and interest of your student loan. Use the IDAPP Repayment Calculator to estimate your monthly payment amount. Click here to view the repayment timeline.

Paying Your Loan Faster
Paying more than your required monthly payment can help you pay off your loan faster. At IDAPP, there’s no penalty for prepayment. When we receive your payment, we pay off the interest that has accrued first. Any additional amount received is applied to your principal. So the more you pay each month, the faster your principal is reduced.