Rates & Terms

Annual Percentage Rate (APR) = Interest Rate adjusted for applicable fees and discounts

Term Index Interest Rate Estimated Monthly Payment Estimated Total Payment
10 years
(120 months)
Variable, based on 3-Month LIBOR and
may increase after loan consummation,
subject to floor rate of 6.00%
7.32% - 13.32%
(7.01% APR - 12.07% APR)
$140.66 - $221.42 $18,229.20 - $27,920.40
Data in table reflects rates as of 1/27/2023.

Loan Cost Example

Assuming a $10,000 loan amount, a 7.01% APR, and a 10-year term, you would make 54 (48 months in school + 6 month grace period) monthly payments of $25 while enrolled in school followed by 120 monthly payments of $140.66 to repay this loan. If the APR is 12.07% and the loan amount remains $10,000 you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $221.42 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.

Annual Percentage Rate (APR)

The Annual Percentage Rate (APR) represents the total amount a loan will cost over a one-year period. Expressed as a single percentage, the APR gives borrowers a clear understanding of a loan's true overall cost, as it accounts for the interest rate, together with any and all fees.The APR also considers how the loan is paid back, including the amount of monthly payments and the length of any deferment period and the repayment period. The APR may be lower than the interest rate as a result of automatic rate reductions that are to occur at a future date or because the loan has a deferment period during which full payments of principal and/or interest are not required.

Minimum Monthly Payment

The monthly minimum payment during the Repayment Period is your calculated monthly payment or $50.00, whichever is greater.


The London Interbank Offered Rate (or LIBOR) is a daily reference rate based on the interest rates at which banks borrow unsecured funds from other banks. This offered rate is the funding cost to a bank and is commonly used as a benchmark for the bank's lending rate.

The Base Rate adjusts quarterly on the first day of January, April, July and October. We use the average of the 3-Month LIBOR, as reported by the Wall Street Journal on the 1st of each month, for the last three months preceding the adjustment date. If the 1st of the month is not a business day, the last business day in the previous month will be used.

ACS Grade

ACS (Academic Credit Score) Grade is a designation assigned to each loan request to assess borrower creditworthiness using a proprietary credit scoring model. ACS Grades are unique because, unlike many other scores, the ACS takes into account not only the credit bureau data, but also the student's academic characteristics such as GPA, course of study, and class standing.

Please note that we reserve the right to modify or discontinue products and services offered on this website at any time and without notice.