Ranges of Interest Rate
Our loans have adjustable rates based on the Prime Rate (5.00% as of May 2008), plus or minus a margin based on the credit worthiness of the borrowers.
Find the category that best describes your program to determine what your interest rate ranges are.
| School Category | Lowest* | Highest* |
Four-Year Traditional
Colleges and Universities | 4.50%
(Prime - 0.50%) | 10.65%
(Prime + 5.65%) |
Two-Year Colleges,
Trade and Proprietary Schools | 5.75%
(Prime + 0.75%) | 12.65%
(Prime + 7.65%) |
| Distance and Online Schools | 6.75%
(Prime + 1.75%) | 12.65%
(Prime + 7.65%) |
| Consolidation Loans | 4.75%
(Prime - 0.25%) | 8.75%
(Prime + 3.75%) |
*Includes a 0.25% discount for automated payments. An additional discount of 0.50% for good payment history is available after your first 48 consecutive on-time payments. Accounts in Total Deferment are not eligible for rate reductions until repayment begins.