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Current Interest Rates

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

 

Term

5-year

10-year

15-year

Rate*

(with auto-pay)

3.49% - 6.14%
4.24% - 7.14%
4.74% - 7.64%

APR (1)

(with auto-pay)

3.49% - 6.14%
4.24% - 7.14%
4.74% - 7.64%

Number of Payments

60
120
180

Upfront Fees

Zero
Zero
Zero

Monthly Payment Amount

(based on $10,000 loan)

$182 - $194 $103 - $117 $78 - $94

Total Interest Charges

(based on $10,000 loan)

$913 - $1,639 $2,287 - $4,020 $3,992 - $6,830

 

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(1) Rates are subject to change at any time. The rate you will receive will be based on the term of the loan, if the loan is cosigned, your credit score, your cosigner's credit score (if applicable) and other factors. The Annual Percentage Rate (APR) reflects the accruing interest, the effect of capitalized interest, and making equal payments over the term of the loan. Minimum monthly payment is $50.00.  Loan enters repayment at final disbursement. First payment will be due approximately 30 days after the loan is disbursed. View application disclosure

Borrowing limits range from $100,000 - $250,000 and are based on the highest degree earned of the student who benefitted from the loan proceeds. To be eligible for the highest borrowing amounts, primary borrower on loan must be the student who benfitted from the loan proceeds.

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.

 

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