I think that before bothering about schools and academies, the most important people in the colony will be the artisans, the farmers and the builders - laughs Ederin.
Besides, I suppose that it will be up to the council to decide the tax system of the colony, and the interest rates of the loans will be applied in the standard way. That is...hmm... he starts scribbling something on his notebook - alright, that is, for example at the end of the five years without interest payments a loan of 25000 coins would transform itself into a debt of approximately 32000 coins, and you would need to pay 1600 coins each year to keep the debt stabilized. If you want to repay it completely in seven years, for example (thus the last payment comes at the same time you gain access to the last 1280 acres of land), you would need to pay hmm.... another furious scribbling - ok, 5530 coins each year for 7 years. Fair enough, I think.
I'll give another example: say that while building the colony, we need 200.000 coins of loans in the first year, 100.000 coins the second, third and forth year, and none the last year. So, at the sixth year, in order to fully extinguish the debt, we would have to pay 602.000 coins in one single transfer. We could settle for a twenty five years term of repaying, and the annual transfer payment would be .... .... ah, now I remember the formula...umm, yes, this is it: 43.000 coins each year.
Well, if we find exceptional resources, we could repay back the loan sooner, and at lower cost.
After a moment of silence, he adds, reluctantly:
However, there is something that I don't really like: the acres given to each of the founding nations is quite big. That would be perfectly fine, under certain circumstances: for example, that would be fine, if that was unexplored and "free" land, to be taken and civilized by whoever has the strength and will to do it. However, as we would have to buy or borrow land from the council, it is implied that it is claimed by the colony. Thus, you should either "pay" those 100000 acres to the colony, by erasing them from its debt (the loan debt or the debt that you mean to erase by commercial advantages), or allow us to claim new land, at our peril and expense. Furthermore, are you implying that nation's representatives will get to chose their land before anyone else does?