DHFLA provides interest-free loans of up to $24,000 to help cover higher education related costs. The loan is made in installments of $3,000 per semester for a maximum of 8 semesters. Loan repayments of $75 per month begin the month following the initial disbursement. Six (6) months after graduation or withdrawal from school, payments increase to $250 or 1/66 of the remaining loan balance. A completed application form and a minimum of two (2) qualified guarantors are required to apply for these loans.