Ascent Student Loan Rates: Tuition Loans

 

The following examples illustrate three hypothetical first year single disbursement undergraduate student loans in the amount of $10,000 including (i) the Annual Percentage Rate (APR), (ii) estimated monthly payments, and (iii) total cost during the life of the private loan. Variable rate loans are based on a margin between 2.25% and 9.00% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent.  The current LIBOR is 1.294%, which may adjust monthly.  Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 3.54% and 9.78%.  Fixed rate loans have an APR range between 5.18% and 11.60%.

Your actual student loan interest rate may be different than what is shown in the examples below and will be based on your credit history, selected repayment option, and other factors. The following table shows a 48 month in-school period plus 6 months of grace prior to a full repayment term of either: 60-months (lowest fixed/variable rate), 144-months (highest fixed rate) or 180-months (highest variable rate) with examples of (i) Interest Only payments, (ii) $25 Minimum payments, and (iii) Deferred repayment options.

Tuition Variable Rate

(Rates are effective as of 12/01/2017.)

 MINIMUM (LOWEST RATE) PAYMENT EXAMPLE AT 5-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 3.54% 54 @ $29.50 60 @ $182.01 $12,513.60
$25 Minimum Payment 4.44% 54 @ $25.00 60 @ $199.43 $13,315.80
Deferred Repayment 4.50% n/a 60 @ $228.21 $13,692.60

MAXIMUM (HIGHEST RATE) PAYMENT EXAMPLE AT 15-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 9.78% 54 @ $81.58 180 @ $106.04 $23,492.52
$25 Minimum Payment 9.46% 54 @ $25.00 180 @ $141.68 $26,852.40
Deferred Repayment 9.50% n/a 180 @ $159.81 $28,765.80

Tuition Fixed Rate

(Rates are effective as of 12/01/2017.)

 MINIMUM (LOWEST RATE) PAYMENT EXAMPLE AT 5-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 5.18% 54 @ $43.25 60 @ $189.45 $13,702.50
$25 Minimum Payment 5.94% 54 @ $25.00 60 @ $222.21 $14,682.60
Deferred Repayment 5.96% n/a 60 @ $252.28 $15,136.80

MAXIMUM (HIGHEST RATE) PAYMENT EXAMPLE AT 12-YEAR REPAYMENT TERM

Repayment Option APR No. of Payments In-School/Grace …Thereafter Total Cost
Interest Only Repayment 11.60% 54 @ $96.75 144 @ $128.79 $23,770.26
$25 Minimum Payment 10.96% 54 @ $25.00 144 @ $182.60 $27,644.40
Deferred Repayment 10.95% n/a 144 @ $204.23 $29,409.12