1. STUDENT LOAN ANNUAL PERCENTAGE RATE (APR) - IMMEDIATE REPAY: 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 is for a 5-year loan, including the 0.25% interest rate reduction for using the auto-pay feature and RI Advantage Discount.
2. RI ADVANTAGE DISCOUNT: applies to any Rhode Island resident students attending school in any state or non-Rhode Island resident students attending a school in Rhode Island.
3. REFINANCE LOAN: Reflects the estimated total cost of the loan, including upfront fees ($0), accruing interest, and the effect of capitalized interest ($0). Interest begins accruing after each loan disbursement. The rate shown includes the 0.25% interest rate reductions for using the auto-pay feature. If the monthly payment is calculated to be less than $50 per month for the full term, the lowest payment is $50 per month with the term reduced. Not all borrowers qualify for the lowest rate. The rate you will receive (ranging from 3.99% – 8.04% APR with auto-pay) is based on the term of the loan, if the loan is cosigned (which lowers your rate), if you are a Rhode Island resident or for qualified loans for attending a college or university in Rhode Island (which lowers your rate), your credit score & financial history, your cosigner's credit score (if applicable), and other factors. The rate shown is for a 5-year term, with a cosigner. The first payment will be due approximately 30 days after the loan is completely disbursed. The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms.