|(a) Although loans may be prepaid at any time without penalty, repayment shall begin as provided in §21.202 of this title (relating to Period of Loans) and shall extend over such period authorized therein. (b) The board will provide a repayment schedule calling for the minimum payment amount sufficient to repay all loans made under this subchapter over the maximum authorized period. In no case will the minimum annual repayment be less than $600 on all such loans. (c) The commissioner may postpone required periodic installments of principal and any accrued interest during any authorized period. Any such periods shall not be included in determining the five-year repayment period. (d) A charge of 5.0% of the monthly payment or $5.00, whichever is less, shall be assessed on any payment received later than 10 days from the due date of such payment. Such charges shall be collected out of the first payments made in
excess of the interest then due. (e) The cosigner may not be held responsible for the repayment of the loan, accrued interest, and other charges if the borrower dies or becomes totally and permanently disabled.