Student Loan Rates
|
7/1/2007 - 6/30/2008 |
Rate Cap |
|
|
6.80% |
6.80% |
|
|
8.50% |
8.50% |
|
|
Varies* |
8.25% |
|
|
Loan Rate |
LIBOR Rate as of
4/1/2008 |
|
|
3 month LIBOR + 2.75-5.25% based on credit score. |
3.01%** |
|
*The Federal Consolidation loan interest rate is determined when the loan is originated. With the exception of any outstanding balance representing a HEAL loan, the Federal Consolidation loan interest rate is a fixed rate equal to the weighted average of the interest rates of the loans being consolidated rounded up to the nearest 1/8th of 1% but not exceeding 8.25%. The interest rate on the portion of a Federal Consolidation loan representing a HEAL loan is a variable rate that is adjusted annually on July 1. This rate is set at 3 percent over the bond-equivalent rate for the three-month Treasury bills auctioned during the three months ending June 30.
**3-month London Interbank Offered Rate ("LIBOR") as published in The Wall Street Journal on the first business day of the calendar month immediately preceding Change Date for Alternative Student Loans.
