What are the repayment conditions of the travel loan and what is the interest rate incurred?
After arriving in the United States, the recipient has 42 months to repay this interest-free loan. Repayment of the loan generally begins within six months after arrival. The recipient should repay the loan in monthly payments set forth in the loan note. The monthly payments should be sent to the voluntary agency designated on the loan note. The voluntary agency then reimburses IOM to make funds available for others seeking resettlement. Repaying the travel loan promptly contributes to the future of the travel loan program, helps refugees to establish a good credit rating in the United States, and avoids having the loan returned to IOM or the Department of State for further collection action.
