What are your loan terms and interest rates?

We offer both fixed and variable rate ranges. Variable rate ranges are based on the LIBOR index and are updated quarterly. Rates and fees are subject to change.


Annual Interest Rates:

  • Fixed rate ranges: 6.890% to 9.890% (6.455% to 9.029% APR)
  • Variable rate ranges: 7.000% to 9.933% (6.553% to 9.065% APR).***


Loan term:

10-years (up to 54 months deferment plus 6 month grace period)


Loan Amounts: Minimum loan of $2,500, maximum of $15,000 per academic year (must exceed $3,000 for Georgia residents and must be at least $5,000 for residents of California).

  • Two Payment Options: You have two repayment options and may switch between them during the time your are in school full-time and six months after (up to 60 months) the academic deferment period.
    • Small in-School Payments: During school until six months after graduation or being enrolled less than half-time (up to 60 months), pay $20.00 with higher payments thereafter. *Taking this option and making payments on time may help you establish a positive credit file. 
    • Full Deferment: Full deferment for six months after graduation or being enrolled less than half-time (up to 60 mos.).

* For a $10,000 loan, assuming you make 54 payments of $20 a month for an academic deferment period of 48 months of school plus 6 months, you will then make 120 monthly payments of $176.38, paying a total of $22,245.60, assuming the highest possible starting rate of 9.933% (9.224% APR).

*** Variable rates are based on our margin of 4.52-8.08% plus the three-month LIBOR rate (a standard interest rate index), so that range is subject to change on a quarterly basis. The rate will never exceed 9.933% during the life of the loan. 


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