Under $1000 you get a check by the last day of the quarter following the quarter you terminate.
$1000-$5000 you can choose a check or rollover. If you do not make a choice, the money will be put in an IRA for you at Key Bank. Again, by the last day of the quarter following the quarter you terminate.
Over $5000 you can leave where it is for as long as you like.
Your loan becomes due immediately. If there is outstanding balance on the last day of the quarter following the quarter you terminate, it will be taxed.