- The following examples depict the APR, monthly payment and total payments during the life of a private loan with a single disbursement.
- For variable rate loans, the 3-Month LIBOR is currently and may change quarterly. This may cause the monthly payment to increase, the number of payments to increase or both.
- Your actual interest rate may be different than the rates in these examples and will be based on your credit history, which repayment option you choose and other factors, including your cosigner's (if any) credit history.
- The deferment period is an example of the number of months a student is not required to make any payments of principal or interest, unless a student elects, during the application process, to make $25 in-school, fixed payments. It includes the amount of time the student is enrolled in school at least half-time and a grace period. The repayment period is the number of months over which the loan will be repaid.
- Interest rates and APR examples are rounded up to the nearest hundredth of one percent.

- The Deferred Payment examples assume no payments are made during the deferment period. Although you are not required to make payments until your loan enters repayment, you can make payments ahead of schedule at any time without penalty. By making payments ahead of schedule, you can reduce the total cost of your loan.
- The In-School Payment examples assume you elected, during the application process, to make fixed payments of $25 each month while you are in-school and during your grace period. By selecting this option, you can reduce the amount of accrued interest capitalized when you finish your in-school and grace periods, thereby reducing the total cost of your loan.

DEFERMENT PERIOD( 45 MONTHS in school+ 6 MONTHS grace) |
INTEREST RATE |
REPAYMENT( 180 MONTHS of equal payments) |
LIFE OF LOAN( 231 MONTHS) |
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Repayment Option | Type | Range | Monthly Payment | Total Payments | APR |

DEFERRED PAYMENT($0 monthly) | Variable Rate | Lowest Starting Rate = (3-Month LIBOR + ) | |||

Highest Starting Rate = (3-Month LIBOR + ) | |||||

Fixed Rate | Lowest Rate = | ||||

Highest Rate = | |||||

IN-SCHOOL PAYMENT($25 monthly) | Variable Rate | Lowest Starting Rate = (3-Month LIBOR + ) | |||

Highest Starting Rate = (3-Month LIBOR + ) | |||||

Fixed Rate | Lowest Rate = | ||||

Highest Rate = |