| |
| KeystonePLUS Loan (disbursed before 7/1/06) |
 | | Annual Percentage Rate |
|
|
| 8.02% |
|
|
|
| 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. Loans disbursed before 7/1/06 have a variable interest rate. The interest rate is adjusted every July 1st, and can not exceed 9.00%. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| KeystonePLUS Loan (disbursed 7/1/06 - 6/30/07) |
| | 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%. 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% for loans disbursed 7/1/06 to 6/30/07. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| KeystonePLUS Loan (disbursed after 7/1/07) |
| | 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. |
|
| |
| KeystonePLUS Loan (disbursed after 7/1/08) |
| | 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%. 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%. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| Members 1st FCU Alternative Loan Program (TERI) |
| | Annual Percentage Rate |
|
|
| 4.75% |
|
|
|
| Rates as low as indicated. This loan is a private loan guaranteed by The Education Resources Institute (TERI) and may be used to help cover expenses that Federal aid may not cover. The program is available to members for continuing education, undergraduate study, and graduate or professional study. School must be approved to participate in this loan program. Many times, borrowers will need a creditworthy cosigner to qualify for the loan. Generous loan limits allow students to borrow funds to cover the cost of tuition and fees, room and board, books and supplies, and other living expenses, as determined by the school. This loan may be used to cover a previous academic year balance. Interest rates are based upon the Prime Rate, plus or minus a margin, as determined by creditworthiness and/or repayment option. Origination fees are dependent upon creditworthiness and repayment option. Repayment options vary depending upon loan program. The maximum repayment term is 12 years. |
|
| |
| KeystoneBEST Loan (disbursed before 7/1/06) |
| | Annual Percentage Rate |
|
|
| 7.22% |
|
|
|
| This is a "no fee" Federal Stafford loan program for student borrowers. Students may qualify for subsidized and/or unsubsidized loans, as determined by the school. In order to qualify for a loan, 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 disbursed before 7/1/06, have a variable interest rate. The interest rate is adjusted every July 1st, and can not exceed 8.25%. Rate reflected is the "in repayment" rate. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| KeystoneBEST Loan (disbursed after 7/1/06) |
| | 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 disbursed after 7/1/06 have a fixed rate of 6.80%. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| Federal Graduate PLUS (disbursed before 7/1/07) |
| | 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 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 x 232 for a pre-approval over the phone. The interest rate is determined by the Federal Government. For loans disbursed before 7/1/07, the interest rate is fixed at 8.50%. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| Federal Graduate PLUS (disbursed after 7/1/07) |
| | 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 x232 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. |
|
| |
| Federal Graduate PLUS (disbursed after 7/1/08) |
| | 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 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 x232 for a pre-approval. Interest rate is set by the Federal Government. Rate is fixed at 8.50%. Contact the Student Loan Department for additional information on borrower benefits. |
|
| |
| Federal Consolidation Loan |
| | Annual Percentage Rate |
|
|
| 8.25% |
|
|
|
| Interest rate cap is shown. This is a consolidation program for Federal Loans. The borrower's interest rate is based upon the weighted average of all loans being consolidated. The new consolidation loan will have a fixed interest rate. The rate you qualify for is based upon your loans being consolidated. The rate can not be higher than 8.25%. Borrowers may consolidate even with only one outstanding loan. Once a borrower consolidates all of their loans, re-consolidation is not an option, unless there are additional loans being added to the original consolidation loan. Consolidation may reduce monthly payments and may possibly extend the repayment term. |
|
| |
