Repayment Breakdown

General Discussion for SMART Scholarship Recipients
guestt

Repayment Breakdown

Post by guestt »

Has anyone that has obtained a debt letter from DFAS obtained a breakdown of their bill?
Does the amount correspond to what you expected?

mystery123

Re: Repayment Breakdown

Post by mystery123 »

Yes-- I guess it was what I was expecting - tuition, stipend, book allowances-- the summer pay is not being collected. there are also no fees/interest

Arbiter

Re: Repayment Breakdown

Post by Arbiter »

What is the timeframe you have to pay back?
Are they monthly payments - if so, what are they?
Any grace period?

Question

Re: Repayment Breakdown

Post by Question »

mystery123 wrote:Yes-- I guess it was what I was expecting - tuition, stipend, book allowances-- the summer pay is not being collected. there are also no fees/interest
The summer pay that is not being collected, is that just the support payments or the portion of the stipend from the summer, too?

guesttt123

Re: Repayment Breakdown

Post by guesttt123 »

mystery123 wrote:Yes-- I guess it was what I was expecting - tuition, stipend, book allowances-- the summer pay is not being collected. there are also no fees/interest
Are these separate items on your DFAS debt letter? Does it explicitly mention these items or does it simply say SMT Smart Scholarship?

mystery123

Re: Repayment Breakdown

Post by mystery123 »

I had to request the breakdown, so it is separate from the DFAS letter. I requested in through the DFAS online portal under "misc misc". My original letter just said SMT SMART like the others.

Just the summer support payments (the 1200/week) are not being collected. Full regular stipend is being collected (so 25k/year for me).

Monthly payments for me are the total amount divided by 36 (so 3 years payback time). However, like others have said if you call DFAS they will tell you you can start paying less than that and request a lower payback program amount.

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