School Certified Student Loan Interest Rates

• Interest rate and rate adjustment: The Lender index is based on the Prime Rate reported in the credit market section of The Wall Street Journal on the fifth business day prior to the previous calendar quarter. The margin on School Certified Student Loans ranges from minus 0.5% up to plus 7.9% [a].
• Interest accrues from the date of first disbursement and is capitalized only once, at the time of repayment.

Loan Fee

The loan fee will be financed so the disbursement amount equals the total loan amount certified by the school.

• Loan fees range from 0% (for the most creditworthy borrowers) to 9% [a].

Apply now for a School Certified Loan

Repayment

• Our borrowers enjoy a repayment grace period of up to 12 months after graduation, or 6 months after the student is no longer enrolled at least half-time. Interest continues to accrue during this grace period.
• Repayment must start immediately following the applicable grace period.

Repayment schedules

• Level repayment, by which equal monthly payments are made over the term of the loan; and
• Graduated repayment, by which payments start at a smaller amount and gradually increase over the loan term.

If the borrower does not specify an option, the loan will automatically be put on a level repayment schedule. The repayment period and payment amount will vary depending on the total amount of loan debt a borrower has incurred by the beginning of his or her repayment period. The repayment period may be less than the 25-year maximum if a minimum $50.00 per month payment will satisfy the loan in a shorter period of time. The monthly repayment amount may be set at more than the $50.00 minimum to satisfy the loan within the 25-year maximum.