Federal Family Education Loan Program (FFELP) Loan Repayment

Federal Family Education Loan Program (FFELP) Loan Repayment

Regards to Your Loan

Interest for adjustable Stafford Loans(Fall 2006 – springtime 2007)

  • 6.8 percent whilst in school and during grace-period
  • 6.8% during payment
  • 8.25% optimum limit

Price is great through 30, 2007 june. Will reset starting July 1, 2007. Grace Period for 6 months (start when last enrolled at the least half time).

Repayment Alternatives

  • Prepayment – you may possibly pre-pay all or element of your loan at any time without penalty. This might considerably lower your total interest expenses.
  • Standard Repayment Plan ? Under this course of action, your payment per month will continue to be the exact same throughout the repayment period that is entire. This payment plan is considered the most economical. Term is as much as 10 years.
  • Graduated Repayment Arrange ? As its title indicates, this plan of action starts with smaller payments, accompanied by an increase that is gradual the re payment into the re payment quantity at specified intervals. Your rate of interest additionally the payment duration stay the exact same, but you will probably spend more interest on the term regarding the loan. Read more