Rates as low as LIBOR + 2.50%

currently 4.4160% APR†

† LIBOR stands for London Interbank Offered Rate. The one-month LIBOR is the Current Index, as published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). Your variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your credit history and will increase or decrease if the one-month LIBOR index changes.

Your variable interest rate is calculated by adding the current one-month LIBOR index (captured on the 25th business day of each month and rounded up to the nearest 1/8th of one percent) to your margin. The current one-month LIBOR index was 2.500% on 6/1/08.

This APR example assumes a $6,500 undergraduate, cosigned, loan disbursed over two transactions with a deferment period of 45 months upon initial disbursement and a six month grace period upon graduation, a 20 year repayment term with no repayment fees, and a 2.50% margin. Margins can range from 2.5% to 8.00% and repayment fees can range from 0% to 4% both depending upon your or your cosigner's credit history.

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