Private Certified Loan Rates And Repayment

Private Loan Benefits:

• Borrow up to the true cost of your education
  
• Fast eSignature process

Private Certified Loan Interest Rates

Our private certified student loan interest rate is based on the Prime rate. Prime is a "reference or base rate" (currently 3.25%) that banks use to set the price or interest rate on many of their commercial loans and some of their consumer loan products.

• Variable interest rates from Prime (currently 3.25%) plus or minus a margin based on credit
• 0.25% repayment interest rate credit when payments are set up for automatic debit from a bank account

You and your cosigner must pass a credit check, and your interest rate is determined by your credit worthiness. The interest rate is variable and can fluctuate as Prime does every 3 months. Interest begins accruing when the loan is disbursed to the school.

Apply for a Private Student Loan

Private Student Loan Repayment Terms

The school certified private student loan has a repayment term of 15-20 years, and does not begin until 6 months after graduation or enrollment in school is less than half-time.

You have three options including deferment or repayment of interest only or interest and principle.

Full Deferral: No principal or interest payments due while enrolled in school (up to four consecutive years). Payment of principal and interest will begin 6 months after graduation or if no longer enrolled at least half time. Interest will continue to accrue during the deferment period and will be capitalized (added to the loan balance) at the time of repayment.

Interest Only: Pay only accrued interest while enrolled in school (up to four consecutive years). Payment of principal and interest will begin either 45 days after graduation or withdrawal from school.

Immediate Repayment: Payment of principal and interest will begin after loan is fully disbursed.

For more information about private student loan rates, check out our frequently asked questions page, or simply get started and apply online.