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).***
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.