VIEWS: 4 PAGES: 2 POSTED ON: 11/7/2012
Federal Nursing Student Loan Application & Solicitation Disclosure Page 1 of 2 Yale University P.O. Box 208338 New Haven, CT 06520-8338 203-432-2727 Loan Interest Rate & Fees Your fixed interest rate will be Your Interest Rate during the life of the loan Your rate is fixed. This means that your rate will remain fixed at the interest rate stated on this form. 5% Loan Fees Late Charge: not to exceed an amount equal to 6% of the required monthly payment on loans more than 60 days past due. Returned Check Charge: $25.00 Loan Cost Examples The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates based upon two (2) different repayment options available to you while enrolled in school. Repayment Option Amount Provided Interest Rate Loan Term Total Paid over 10 (while enrolled in school) (amount provided (highest possible (how long you have to years directly to you or your starting rate) pay off the loan) (includes associated school) fees) 1. DEFER PAYMENTS $1,500 5% 10 years $1,632 Make no payments while enrolled in school. starting after the deferment period 2. MAKE FULL PAYMENTS $1,500 5% 10 years $1,632 Pay both the principal and interest amounts starting after your first while enrolled in school. payment About this example The repayment example assumes that you remain in school for 4 years and have a 9 month grace period before beginning repayment. It is based on the fixed interest rate and associated fees. Page 2 of 2 Federal Loan Alternatives Loan program Current Interest Rates by Program Type You may qualify for Federal education loans. PERKINS 5% fixed for Students For additional information, contact your school's financial aid office or FEDERAL DIRECT 4.5% fixed Undergraduate subsidized the Department of Education at: for Students 6.8% fixed Undergraduate unsubsidized & Graduate www.federalstudentaid.ed.gov PLUS 7.9% fixed Federal Direct for Parents for Parents and Graduate / Professional Federal Direct for Graduate & Professional 7.9% fixed Students Students Next Steps 1. Find Out About Other Loan Options. Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school's financial aid office or visit the Department of Education's web site at: www.federalstudentaid.ed.gov for more information about other loans. 2. To Apply for this Loan, Complete the Application and the Self-Certification Form. You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as permitted by law). REFERENCE NOTES Fixed Interest Rate Bankruptcy Limitations • This loan has a fixed interest rate for the life of the loan. • If you file for bankruptcy you may still be required to pay back this loan. Eligibility Criteria More information about loan eligibility and repayment deferral or Borrower forbearance options is available in your loan application and loan • Must be enrolled at an eligible school at least half-time. agreement. • Must be 18 years or older at the time you apply.
Pages to are hidden for
"Loan Interest Rate _ Fees Loan Cost Examples Federal Nursing .pdf"Please download to view full document