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Once the repayment period commences, the borrower may enroll in automatic payment. Private Loans that are in a deferment (including borrowers who elect deferred repayment), grace period, or forbearance are not eligible to enroll and receive the automatic payment benefit until they enter into repayment. Highest rate assumes an application with a cosigner, deferred repayment, 15-year repayment term, and 0.50 percentage point interest rate reduction for Autopay benefit. Lowest rate assumes an application with a cosigner, immediate repayment, 7-year repayment term, and 0.50 percentage point interest rate reduction for Autopay benefit.
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As of Jthe One–Month LIBOR rate is 0.09%.
#College loan payoff calculator mobile app plus
Monthly interest rate accrual is based on the published One–Month London Interbank Offered Rate ("LIBOR") as of the last business day of the previous month plus your applicable margin.
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Variable APR rates may increase or decrease depending on fluctuations in the London Interbank Offered Rate (LIBOR) index. Accordingly, the APR is subject to increase or decrease due to factors such as changes in the interest rate of variable rate loans, changes in principle due to the capitalization of interest or presence of a cosigner. 1 APR or "annual percentage rate" is a calculation of what the loan will cost, taking into consideration interest, fees and length of loan.