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EXTRA Loan Annual Percentage Rate (APR) Examples
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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% |
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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. |
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