Repayment Examples

• Undergraduate
• Graduate
• Continuing Education

Make no payments for up to four years while continuously enrolled in school (5 years if enrolled in 5-year degree program). Repayment of principal and interest then begins within 180 days after graduation or withdrawal from school.

Undergraduate Option 2

Immediate Interest Only

Pay only interest for up to four years while continuously enrolled in school (5 years if enrolled in 5-year degree program). Repayment of principal and interest then begins within 45 days after graduation or withdrawal from school.

Undergraduate Option 3

Immediate Repayment of Principal and Interest

Pay principal and interest in a fixed monthly amount beginning within approximately 45 days after funds are disbursed.

The interest rates used in these examples are based on a three month average of the one month LIBOR (London Interbank Offered Rate). The most recent quarterly average is 5.33%. This is the average of the one month LIBOR from the first business day for October, November and December of 2006. The interest rate and payments are variable and adjusted quarterly. The margins and the origination fees vary depending upon loan type, repayment option, credit-history, and whether a co-signer is used.

The margins can vary from 2.25% to 7.35%. The origination fees for this program can vary from 4.49% to 9.99% based on the borrower's and co-signer's (if applicable) creditworthiness. The margin and origination fee used in the example above are representative of loans expected to be made under the Program. The interest rate and APR will increase during the life of the loan if the LIBOR Index increases.

These are examples of current program offerings and are subject to change.