When your loans were disbursed, you were given a rebate of a percentage of your principal balance (see the tables below). Although the rebate was applied when your loans were disbursed, if you made a late payment within the first 12 months of repayment, the rebate amount was added back to your principal balance. Payments have to be made within six calendar days after the due date to be on-time. The interest rebate was eliminated for loans first disbursed on or after July 1, 2012.