EXTRA Loan Annual Percentage Rate (APR) Examples
  Example 1 Example 2 Example 3
Amount Borrowed $5,000.00 $12,000.00 $25,000.00
In-School Period 24 Months 45 Months 45 Months
Grace Period 6 Months 6 Months 6 Months
Variable Rate 7.00% 7.00% 7.00%
APR (prior to repayment) 7.00% 7.00% 7.00%
Initial Repayment Amount * $5,875.00 $15,570.00 $32,437.50
Repayment Period 120 Months 180 Months 240 Months
Monthly Payments $68.21 $139.95 $251.49
APR (during repayment) 7.00% 7.00% 7.00%
 
 
The APR examples shown above are estimates that assume a constant interest rate over the life of the loan. Interest on an EXTRA Education Loan accrues at a variable rate, subject to change on a quarterly basis. The actual APR may increase or decrease based upon fluctuations in the variable rate.
 
 
* Capitalized Interest - Includes interest accrued during the in-school and grace periods that was capitalized at the beginning of the repayment period.