Payment examples (all assume a 45-month deferment period, a six month grace period before entering repayment and a .25% interest rate discount for making ACH payments upon entering repayment (see footnote 3)): 5 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 5-year repayment term (60 months), and a 6.891% APR would result in a monthly principal and interest payment of $196.72 ; 7 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 7-year repayment term (84 months), and a 7.224% APR would result in a monthly principal and interest payment of $151.29; 10 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 10-year repayment term (120 months), and a 7.506% APR would result in a monthly principal and interest payment of $118.05.

The lender on the raise^ private student loan program is Cognition Lending 200 Clarendon Street, 3rd Floor, Boston, MA 02116. NMLS number 957936. The NMLS Consumer Access page is: http://www.nmlsconsumeraccess.org. Loans made in California are made pursuant to California Finance Lenders Law license 60DBO 57.