Sallie Mae Disclosures:
15 Advertised rates are for the Smart Option Student Loan for Undergraduate Students. Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest and your selected repayment option applies starting at disbursement, while in school and during your separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a freshman with no other Sallie Mae loans.
16 Advertised loan terms are for the Smart Option Student Loan for Undergraduate Students: This repayment example is based on a typical loan to a borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and an 9.09% variable APR. It works out to 51 payments of $25.00, 119 payments of $165.12 and one payment of $120.75, for a Total Loan Cost of $21,045.03. Variable rates may increase over the life of the loan.
17 Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a forbearance or deferment period.
18 Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.
Discover Student Loans Disclosures:
9 The lowest rates shown include a 0.25% interest rate reduction for automatic payments. Please view Terms and Conditions at www.discoverstudentloans.com/autodebitreward. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 2.38% as of October 1, 2018. Discover Student Loans will adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Please visit www.discover.com/student-loans/interest-rates.html for more information about interest rates.
10 At least a 3.0 GPA or equivalent qualifies for a one-time cash-reward of 1% of the loan amount of each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Please visit DiscoverStudentLoans.com/Reward for any applicable reward terms and conditions.
11 A repayment period is the period of time during which scheduled payments are required to be made to repay the principal balance and interest on a loan. For Discover Undergraduate Loans, the repayment period is 15 years. For Discover Graduate, Health Professions, Law and MBA Loans, the repayment period is 20 years.
Raise^ Private Student Loans Disclosures:
12 The variable interest rate currently ranges from 6.080% APR – 11.115% APR. The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index (published on the 25th day, or the next business day thereafter, of the month immediately preceding such calendar month, and rounded up to the nearest 1/8th of one percent) to your margin. Margins currently range from 3.95% - 8.85%. The current One-month LIBOR index is 2.375% on 11/1/2018. LIBOR stands for London Interbank Offered Rate. The One-month LIBOR is published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). The interest rate will be determined after you apply. The variable interest rate and Annual Percentage Rate (APR) depend upon (1) the student’s and cosigner's (if applicable) credit histories, (2) the repayment option and loan term selected, and (3) the requested loan amount and other information provided on the online loan application. The low APR shown assumes that student applies with a cosigner, selects the 5-year repayment term and the immediate repayment option, and receives 1 disbursement, and includes a .25% interest rate discount for making ACH payments (see footnote 3). If approved, applicants will be notified of the rate qualified for within the stated range. The variable interest rate will increase or decrease if the One-month LIBOR index changes, or if the student no longer qualifies for the ACH discount described in footnote 3, but will never exceed 16%. Rates and terms effective for applications received on or after 11/1/2018. Interest will begin to accrue as of the first disbursement date.
13 Payment examples (all assume a 45-month deferment period, a six month grace period before entering repayment and a 0.25% 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 7.142% APR would result in a monthly principal and interest payment of $197.89 ; 7 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 7-year repayment term (84 months), and a 7.475% APR would result in a monthly principal and interest payment of $152.52; 10 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 10-year repayment term (120 months), and a 7.756% APR would result in a monthly principal and interest payment of $119.36.
14 0.25% interest rate reduction applies when full payments (including both principal and interest) are automatically drafted from a bank account. Interest rate reduction(s) will remain on the account unless (a) the automatic deduction of payments is stopped (including during deferment or forbearance) or (b) there are three automatic deductions returned for insufficient funds within the life of the loan.