Student Loan Rates

If you or someone in your family is college-bound and considering borrowing money to pay for college, Members 1st has a student loan program that is right for you.

Call our Student Loan Department at (717) 795-6017 or (800) 283-2328, ext. 6017.

All rates are expressed as ANNUAL PERCENTAGE RATES.
Rates are subject to change without notice.

Loan rates as low as those listed below are effective
Saturday, November 07, 2009

KeystonePLUS Loan (for parents 07-08 year)

Annual Percentage Rate

7.50

This is the Federal PLUS loan program for parents of undergraduate, dependent students. There is an origination fee of 3%. Repayment begins 60 days after the loan is fully disbursed. The maximum repayment term is 10 years. Pre-approvals are available under the Student Services section of the Members 1st website. Applicants may also call the Student Loan Department for a pre-approval over the phone. The interest rate is determined by the Federal Government. The interest rate is fixed at 8.50%; however, for loans disbursed after 7/1/07, Members 1st will reduce the interest rate by 1.00%. If a borrower is late on a payment, then the interest rate will revert to the Federal rate of 8.50%. Contact the Student Loan Department for additional information on borrower benefits.

KeystoneBEST PLUS Loan (for parents 09-10 year)

Annual Percentage Rate

8.50

This is the Federal PLUS loan program for parents of undergraduate, dependent students. There is an origination fee of 3%. There is a default fee of 1%. The PLUS loan is now eligible for deferment until the student graduates or falls below half-time status; parents will also receive the 6 month grace period at the time of separation or graduation before repayment begins. The maximum repayment term is 10 years. Pre-approvals are available under the Student Services section of the Members 1st website. Applicants may also call the Student Loan Department for a pre-approval over the phone. The interest rate is determined by the Federal Government. The interest rate is fixed at 8.50%.

KeystoneBEST Stafford Loan (07-08 year)

Annual Percentage Rate

6.80

This is a "no fee" Federal Stafford loan program for students. Students may qualify for subsidized and/or unsubsidized loans, as determined by the school. In order to qualify, the FAFSA form must be completed. The interest for subsidized loans will be paid by the Federal Government while the student is enrolled in school, and during the student’s 6 month grace period. The interest for unsubsidized loans is the student’s responsibility and can be paid while in school, if the student chooses to do so. If the student does not pay the interest while in school, then the interest will be capitalized and compounded at repayment. Loan limits and rates are set by the Federal Government. Loans have a fixed rate of 6.80%. Contact the Student Loan Department for additional information on borrower benefits.

KeystoneBEST Stafford Subsidized (09-10 year)

Annual Percentage Rate

5.600000

The FAFSA form must be completed to qualify for a Stafford Loan. The interest for subsidized loans will be paid by the Federal Government while the student is enrolled in school, and during the student's 6 month grace period. Loan limits and rates are set by the Federal Government. Loans disbursed after 7/1/09 have a fixed rate of 5.6%. There is a .5% origination fee and a 1% default fee that will be deducted before the loan disburses.

KeystoneBEST Stafford Unsubsidized (09-10 year)

Annual Percentage Rate

6.80

In order to qualify for a Stafford loan, the FAFSA form must be completed. The interest for the unsubsidized loan is the student's responsibility and can be paid while in school, if the student chooses to do so. If the student does not pay the interest while in school, then the interest will be capitalized and compounded at repayment. Loan limits and rates are set by the Federal Government. Loans disbursed after 7/1/09 have a fixed interest rate of 6.80%. There is a .5% origination fee and a 1% default fee that will be deducted before the loan disburses.

KeystonePLUS Loan (for graduate students 07-08 yr)

Annual Percentage Rate

7.50

This is a Federal PLUS loan for graduate/ professional students. Students must be eligible for Federal aid, and apply for the Stafford Loan before borrowing through this program. Students must be creditworthy to qualify and must be working towards a degree or certificate. A 3% origination fee applies. Repayment begins 60 days after loan is fully disbursed; however, students enrolled at least half-time may request an in-school deferment. The maximum repayment term is 10 years. Pre-approvals are available under the Student Services section of the Members 1st website. Applicants may also call (800) 283-2328 x5721 for a pre-approval. Interest rate is set by the Federal Government. Rate is fixed at 8.50%; however, for loans disbursed after 7/1/07, Members 1st will reduce the interest rate by 1.00%. If a borrower is late on a payment, the interest rate will revert to the Federal rate of 8.50%. Contact the Student Loan Department for additional information on borrower benefits.

KeystoneBEST PLUS (for graduate students 09-10 yr)

Annual Percentage Rate

8.50

This is a Federal PLUS loan for graduate/ professional students. Students must be eligible for Federal aid, and apply for the Stafford Loan before borrowing through this program. Students must be creditworthy to qualify and must be working towards a degree or certificate. A 3% origination fee and a 1% default fee apply. Repayment begins 60 days after loan is fully disbursed; however, students enrolled at least half-time may request an in-school deferment. The maximum repayment term is 10 years. Pre-approvals are available under the Student Services section of the Members 1st website. Applicants may also call (800) 283-2328 x5721 for a pre-approval. Interest rate is set by the Federal Government. Rate is fixed at 8.50%.