The below example will depict APR, monthly payment, and total payments through the life of a loan at $10,000 with single disbursement.
All student loan examples below will take into account the auto-pay discount which is generally (0.25%). Note that this may be different for each lender so do check out the refinance page to get an accurate rate for auto-pay discounts per lender. The below example is also taking into account that there are no prepayment fees, application fees, or origination fees. LIBOR – is a widely used benchmark that the world uses for short-term interest rates. To get a better idea of what LIBOR is and how it will change your rate, take a look at this link.
Your actual interest rate may differ from the examples below and will depend heavily on the terms of the loan, APR, and other financial information such as your financial history. This will also apply to a co-signer (if applicable). To get a better idea of the current rates for refinancing student loans, head over to our refinance page.
State restrictions may apply. Check with your lender before applying regarding state restrictions.