Example the following repayment student loan
1 Savings based on typical loan to a borrower attending a non-degree-granting institution whose planned term for enrollment is approximately one academic year.
2 The following repayment example is for informational purposes only and is an example of available loan terms of the Career Training Smart Option Student Loan with the Fixed Repayment Option made to a borrower whose planned term for enrollment is approximately one academic year at a non degree-granting institution of $10,000 with two disbursements and a 12.77% APR [Interest rate of LIBOR + 11.5% (LIBOR of 0. 250% as of 5/25/2011), a 5% disbursement fee and no origination fee]. APR may increase after consummation. Repayment consists of 15 fixed $25/month payments (in-school and during six month separation period), followed by 95 principal and interest payments of $184.71 per month and one payment of $185.05 for total payments of $18,107.50 (finance charge of $8,107.50).
3 Interest rates on loans with the Fixed Repayment Option are higher than rates on loans with the Interest Repayment Option. Rates and fees shown are available for borrowers attending non-degree-granting institutions only. APRs for borrowers attending degree-granting institutions range from 2.75% to 10.23% with no origination fee. Interest rates are variable and may increase after consummation. Deferred repayment option is not available for non-degree granting institutions.
4 Recurring automatic monthly payment must be successfully deducted from designated bank account for rate reduction to apply. Benefit suspended during periods of forbearance and certain deferments.
5 To qualify for cosigner release, borrower must meet age of majority requirements, be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
6 Primary borrower can earn reward into his or her Upromise account of 2% of the scheduled payment for each on time payment made during initial in school and separation period only. If borrower leaves school but returns later, the reward will not be available for any subsequent in-school period. Primary borrower must be of age of majority (typically 18 years old) and must indicate current Upromise membership or enroll in Upromise at the time of loan application. If borrower has two consecutive scheduled payments past due on a loan, he or she will no longer be eligible for the reward on that loan. The reward is not earned on payment amounts in excess of the scheduled payment. Benefit is subject to the terms and conditions of the Upromise service (as may be amended from time to time), including without limitation, restrictions on conversion, transfer and redemption of rewards, reward denomination, including whether and under what circumstances the rewards have independent cash value, and terms relating to fees and/or the forfeiture of rewards.
Subject to $10 minimum monthly transfer amount. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value. Subject to $10 minimum monthly transfer amount. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value. Subject to $10 minimum monthly transfer amount. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value.
1 Savings based on typical loan to a borrower attending a non-degree-granting institution whose planned term for enrollment is approximately one academic year.
2 The following repayment example is for informational purposes only and is an example of available loan terms of the Career Training Smart Option Student Loan with the Fixed Repayment Option made to a borrower whose planned term for enrollment is approximately one academic year at a non degree-granting institution of $10,000 with two disbursements and a 12.77% APR [Interest rate of LIBOR + 11.5% (LIBOR of 0. 250% as of 5/25/2011), a 5% disbursement fee and no origination fee]. APR may increase after consummation. Repayment consists of 15 fixed $25/month payments (in-school and during six month separation period), followed by 95 principal and interest payments of $184.71 per month and one payment of $185.05 for total payments of $18,107.50 (finance charge of $8,107.50).
3 Interest rates on loans with the Fixed Repayment Option are higher than rates on loans with the Interest Repayment Option. Rates and fees shown are available for borrowers attending non-degree-granting institutions only. APRs for borrowers attending degree-granting institutions range from 2.75% to 10.23% with no origination fee. Interest rates are variable and may increase after consummation. Deferred repayment option is not available for non-degree granting institutions.
4 Recurring automatic monthly payment must be successfully deducted from designated bank account for rate reduction to apply. Benefit suspended during periods of forbearance and certain deferments.
5 To qualify for cosigner release, borrower must meet age of majority requirements, be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
6 Primary borrower can earn reward into his or her Upromise account of 2% of the scheduled payment for each on time payment made during initial in school and separation period only. If borrower leaves school but returns later, the reward will not be available for any subsequent in-school period. Primary borrower must be of age of majority (typically 18 years old) and must indicate current Upromise membership or enroll in Upromise at the time of loan application. If borrower has two consecutive scheduled payments past due on a loan, he or she will no longer be eligible for the reward on that loan. The reward is not earned on payment amounts in excess of the scheduled payment. Benefit is subject to the terms and conditions of the Upromise service (as may be amended from time to time), including without limitation, restrictions on conversion, transfer and redemption of rewards, reward denomination, including whether and under what circumstances the rewards have independent cash value, and terms relating to fees and/or the forfeiture of rewards.
Subject to $10 minimum monthly transfer amount. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value. Subject to $10 minimum monthly transfer amount. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value. Subject to $10 minimum monthly transfer amount. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value.
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