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Loan payment example assume a $10,000 loan at a constant interest rate of 5.20%, assuming 45-month in-school period, a six month grace period (i.e., a 51-month "interim period"), no reserve fee, and 15 years in repayment, would require a monthly payment of $97.82. The interim APR would be 4.81%; the repayment period APR would be 5.05%. This interest rate is effective as of 03/01/2010 through 03/31/2010, and assumes a Prime Rate value of 3.25%. APR may increase or decrease after consummation. Consummation occurs upon disbursement of loan proceeds. The interest rate is variable and can therefore increase and/or decrease over the life of the loan.
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APR may increase or decrease after consummation. Consummation occurs upon disbursement of loan proceeds. The interest rate is variable and can therefore increase and/or decrease over the life of the loan.
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The automatic payment is a requirement to be qualified for the interest rate reduction benefit. If the auto payment feature is canceled, the rate reduction benefit is lost.
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