535.53—What is the rule regarding interest?
(a)
In accordance with 31 U.S.C. 3717, the Secretary charges a fellowship recipient interest on the unpaid balance that the fellowship recipient owes.
(b)
No interest is charged for the period of time—
(1)
That precedes the date on which the fellowship recipient is required to begin repayment; or
(2)
During which repayment has been deferred under § 535.54.
Code of Federal Regulations
(Authority:
20 U.S.C. 7475(b)
)