1. INTEREST RATES: Rates are for loans first disbursed on or after July 1, 2023, for the 2023/24 academic year and include 0.25% reduction for making automatic monthly payments (auto-pay feature). Each repayment option is subject to funds availability. Funds will be awarded on a first-come, first-served basis. The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms.
2. APR: The Annual Percentage Rate (APR) reflects the estimated total cost of the loan, including origination fees ($0), accruing interest, and the effect of capitalized interest. Interest begins accruing after each loan disbursement. The rate shown includes the 0.25% interest rate reduction for using the auto-pay feature. If a monthly payment is calculated to be less than $50 per month for full term, the lowest payment is $50 per month with term reduced.
3. RHODE ISLAND ADVANTAGE: applies to any Rhode Island resident students attending school, in any state, or Non-Rhode Island resident students attending a school in Rhode Island.