Repayment Options
You will receive a repayment schedule and disclosure form from your lender 30 days prior to your first payment date. You will be on standard repayment unless you arrange differently. For any repayment plan, paying off your loan early can save you money interest. There are no fees or penalties for paying early. Check with your lender for offers of interest rate reductions for making your payments on time and/or having your payments deducted automatically from your checking account.

Standard Repayment
Fixed, equal monthly payments (minimum payment of $50.00).

Income-Sensitive Repayment
Payments that increase or decrease each year as income rises or falls.
Each of your payments must at least equal the interest accrued on the loan between scheduled payments - Total interest paid will be higher than the standard repayment plan.

Graduated Repayment
Monthly payments which gradually increase
Assumes borrower's income growth over time will cover the increasing loan payments.
Each of your payments must at least equal the interest accrued on the loan between scheduled
payments - Total interest paid will be higher than the standard repayment plan.

Extended Repayment
25-year repayment period if Federal Stafford loan debt is at least $30,000.00 and you were a new
borrower on or after 10/7/98.
Payments will be fixed or graduated (lower at first and then increased over time)
Lower monthly payments - Total interest paid will be higher.

Consolidation
Combining existing student loans into one new loan.
Interest rate is a weighted average of the loans being consolidated, rounded up to the nearest one-eighth of one percent (8.25% maximum).
Lower monthly payments - Total interest cost will be higher.
Extended repayment term of up to 30 years.

Tax Benefits for Higher Education
Borrowers should consult a qualified tax advisor or accountant, or the Internal Revenue Service for questions concerning tax benefits of Student Loans.

For additional information on Student Loans, feel free to contact us via phone or e-mail.