Undergraduate
The Annual Percentage Rate (APR) for our undergraduate private education line of credit is variable1 and is based on the Prime index2 plus a margin.
The current offered rate3 will be between 11.50% and 12.50% APR.
Please Note:
All loans subject to approval and restrictions may apply. We reserve the right to change rates for new applications at any time and without notice. Credit union membership and a minimum share deposit is required.
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The Annual Percentage Rate is subject to increase after consummation. The interest rate will be adjusted quarterly, based on changes to the Index. The APR will not exceed 18.00%, or fall below the Floor rate regardless of the Index or any additional rate discount. Any increase in the Index may increase the APR and the amount of your monthly payment.
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The "Index" for the quarter beginning October 1, 2024, is 8.50%, which was the Prime index published in the Wall Street Journal on the first business day of September 2024.
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Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Interest Rate, Margin, Floor, and/or credit approval depends upon the credit qualifications of the student borrower and co-borrower (if applicable). Margin will be disclosed at account opening. Student borrowers may apply with a creditworthy co-borrower which may result in a better chance of approval and/or lower interest rate.