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| Tuition Answer Loan | Interest rate
The Tuition Answer loan has interest rates that reward good credit. If you are a borrower with excellent credit your interest rates are as low as Prime + 1.0%. Interest rates are changeable and reset monthly.
Fees
A one-time supplemental fee is assessed at disbursement. Borrower's credit history influences this fee at the time of application and the repayment option chosen (begin payments at disbursement or defer payments) and credit rating.
Repayment
• While the student is enrolled at least half time you may postpone all payments (principal and interest)
• If you want to postpone payments until after graduation, it will have higher fees and your overall loan costs will increase. Deferment ends the earlier of four-and-a-half years after the disbursement date or six months after the student graduates.
• If you chose the standard repayment option, you pay regular each month principal and interest.
• You can repay during 30 years. It depends on the amount you borrowed and the repayment option you chose.
• While the student is in school you may choose to pay interest only.
A cosigner
A lot of undergraduate students will not meet minimum credit requirements. They are advised to apply with an eligible cosigner who does. A parent, relative, spouse or any other eligible adult sponsor can be your cosigner. The cosigner is a subject who have to meet the same eligibility requirements and he will be required to authorize a credit check to be approved.
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