Loanerships are capped at $2,500 and carry a maximum repayment term of 30 months. As the student makes progress toward degree completion, the student is eligible to apply for a grant or scholarship that can be applied to the PYT loan for each benchmark achieved. A student borrower who meets all three benchmarks will have their outstanding tuition debts reviewed. The benchmark incentives are as follows:

• Employment Incentive: Obtain or maintain employment of any type while enrolled in classes (internships, Federal Work Study, and part-time jobs all qualify): 15% of outstanding loan balance is eligible to apply as a grant or scholarship


• Graduation Incentive: Complete your course of study: 25% of outstanding balance is eligible to apply as a grant or scholarship


• Federal Student Loan Repayment Incentive: Make your first payment or otherwise take action (apply for deferments or forbearance and/or enroll in Income Driven Repayment Plan) when your first federal student loan payment is due: 10% of outstanding loan balance is eligible to apply as a grant or scholarship