If you have questions we are available by telephone or email when you need us. 866.500.8119   Apply Now Returning Applicants Contact Us

Private Loans

Federal Loans

Consolidation Loans

Loan FAQ's

Products

Interest Rates and Fees

DirectAdvantage^® Student Loan
The examples in the table below are for illustrative purposes only but should help you understand how much a DirectAdvantage Student Loan may cost. The actual rates and fees of your loan may vary from the examples below depending upon your credit history and other underwriting criteria. For all of the examples below, the loan fees are included in the loan amount. The Prime Rate as of April 1, 2008 is 5.25%.

Interest Rate	Loan Fee	Repayment Fee	APR	Monthly Payment
Prime - 0.5%	0%	0%	4.78%	$65.20
Prime + 3.9%	5%	0%	9.69%	$109.82
Prime + 4.9%	5%	0%	10.71%	$122.18
Prime + 4.9%	7%	0%	10.92%	$122.18
Prime + 5.9%	9%	0%	12.18%	$135.39
Prime + 7.9%	9%	0%	14.26%	$164.43

Please note that the examples above are based on the following assumptions:

• You borrow $10,000 which includes your loan fee;
• Your loan is disbursed in a single disbursement;
• You are in school for 22 months after disbursement;
• Interest capitalizes quarterly;
• Your grace period is 12 months;
• You request a repayment period of 300 months (25 years); and
• The Prime Rate remains constant at 5.25% (as of 4/1/2008).

School-Certified Student Loan
The examples in the table below are for illustrative purposes only but should help you understand how much a student loan might cost. The actual rates and fees of your loan may vary from the examples below depending upon your credit history and other underwriting criteria. For all of the examples below, the loan fees are included in the loan amount. The Prime Rate as of April 1, 2008 is 5.25%.

Interest Rate	Loan Fee	Repayment Fee	APR	Monthly Payment
Prime - 0.5%	0%	0%	4.72%	$64.68
Prime + 3.9%	5%	0%	9.44%	$106.97
Prime + 4.9%	5%	0%	10.40%	$118.37
Prime + 4.9%	7%	0%	10.61%	$118.37
Prime + 5.9%	9%	0%	11.79%	$130.40
Prime + 7.9%	9%	0%	13.70%	$156.36

Please note that the examples above are based on the following assumptions:

• You borrow $10,000 which includes your loan fee;
• Your loan is disbursed in two disbursements, one on September 1 and one on January 2;
• You are in school for 22 months after disbursement;
• Interest capitalizes once at repayment;
• Your grace period is 12 months;
• You request a repayment period of 300 months (25 years); and
• The Prime Rate remains constant at 5.25% (as of 4/1/2008).

Please also note that a change in the interest rate may result in a change in your monthly payments. This means that if the Prime Rate increases, the Annual Percentage Rate for your loan will increase and would result in higher monthly payments and/or an increase in the number of scheduled payments.

This information is strictly for illustrative purposes. Your Student Loan Promissory Note and Truth-in-Lending Disclosure Statement will contain the actual terms and conditions of your loan. Upon receipt of your Disclosure Statement, it is up to you to decide whether or not to accept the loan. If you do not accept the proceeds of the loan, you will owe nothing. If you do accept the proceeds of the loan, you are responsible to repay the full amount of all disbursements and applicable interest in accordance with the terms of the Student Loan Promissory Note.