How Much Will I Save?

The CSB interest-free loan is to be repaid on a monthly basis after the student completes or ceases to be enrolled in a full-time program. Repayment commences six months after graduation and is calculated on a ten-year graduated plan.

To see the cost of a typical interest-bearing loan over the same 14.5 years,
see the table below:

CSB's interest-free loan would, in contrast, cost only $40,000.00 over 14.5 years, a savings of $24,715.00.

***TO BEGIN SAVING CLICK HERE***

Repayment Schedule Examples

CSB loan repayments are usually calculated on a ten-year (120 month) graduated payment schedule. There is no interest or application fee of any kind when the loan is processed or throughout the repayment period.

Estimated monthly repayments on a CSB interest-free loan over ten years:

10 Year Graduated Payment Plan - (Example - $40,000 Loan)

Year 1 -    4.50% of the loan amount(s) divided by 12 = $1800 = $150.00 per month
Year 2 -    6.00% of the loan amount(s) divided by 12 = $2400 = $200.00 per month
Year 3 -    7.50% of the loan amount(s) divided by 12 = $3000 = $250.00 per month

Year 4 -    9.00% of the loan amount(s) divided by 12 = $3600 = $300.00 per month
Year 5 -  10.25% of the loan amount(s) divided by 12 = $4100 = $341.67 per month
Year 6 -  11.25% of the loan amount(s) divided by 12 = $4500 = $375.00 per month
Year 7 -  12.00% of the loan amount(s) divided by 12 = $4800 = $400.00 per month
Year 8 -  12.75% of the loan amount(s) divided by 12 = $5100 = $425.00 per month
Year 9 -  13.25% of the loan amount(s) divided by 12 = $5300 = $441.67 per month
Year10-  13.50% of the loan amount(s) divided by 12 = $5400 = $450.00 per month

For those who would prefer it, Central Scholarship Bureau does offer an alternative loan repayment plan of equal payments, as follows:

7 Year Equal Payment Plan - (Example - $40,000 Loan)

• 7 years (x 12 months) or 84 equal payments of $476.19 per month.
• This option requires that the debtor(s) agree in writing to ongoing direct debits from their checking account(s).
• If, and only if, the first 80 payments are made as scheduled, CSB will then waive the final four (4) payments, thus saving the debtor 5% of the original loan or, in this example, $1,904.80.