Current Interest Rates

*All rates listed below reflect 0.25% discount for enrolling in automatic electronic payments. 

Term

5-year

10-year

15-year

Interest Rate1

3.49% - 6.64%*
3.74% - 6.34%*
4.49% - 8.14%*

APR2

3.49% - 6.64%
3.74% - 6.34%
4.49% - 8.14%

Number of Payments

60
120
180

Upfront Fees

Zero
Zero
Zero
Monthly Payment Amount3
(without auto-pay)
 
$182 - $197 $101 - $113 $77 - $97
Total Interest Charges3
(without auto-pay)
 
$913 - $1,780 $2,002 - $3,529 $3,761 - $7,347

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1. Interest rates reflected include 0.25% discount for paying via automatic monthly payments (ACH).  Not all borrowers qualify for lowest rate. The rate you will receive will be based on the term of the loan, if the loan is cosigned, your credit score & financial history, your cosigner's credit score (if applicable) and other factors. Minimum monthly payment will not be lower than $50.00.  Loan enters repayment at final disbursement. First payment will be due approximately 30 days after the loan is disbursed. View application disclosure.
 
2. APR:  The Annual Percentage Rate (APR) reflects the estimated total cost of the loan, including upfront fees ($0), accruing interest, and the effect of capitalized interest. Interest begins accruing after loan disbursement.” 
 
3. Calculations are based on a $10,000 loan.  Maximum borrowing limits range from $100,000 - $250,000 and are based on the highest degree earned of the student who benefited from the loan proceeds. To be eligible for the highest borrowing amounts, primary borrower on loan must be the student who befitted from the loan proceeds.  Each repayment option is subject to fund availability and is awarded on a first-come, first-served basis. New funds may be subject to different rates and/or terms.

Loans are made by the Rhode Island Student Loan Authority. Each repayment option is subject to fund availability and is awarded on a first-come, first-served basis. New funds may be subject to different rates and/or terms.