Federal Family Education Loan Program (FFELP) Loan Repayment

Federal Family Education Loan Program (FFELP) Loan Repayment

Regards to Your Loan

Rate of interest for adjustable Stafford Loans(Fall 2006 – Spring 2007)

  • 6.8 percent whilst in college and during grace-period
  • 6.8% during payment
  • 8.25% optimum limit

Rate is great through June 30, 2007. Will reset starting July 1, 2007. Grace Period for 6 months (start when last enrolled at the least half time).

Repayment Alternatives

  • Prepayment – you might pre-pay all or section of your loan at any right time without penalty. This might significantly lower your total interest expenses.
  • Standard Repayment Plan ? Under this plan of action, your payment will stay the exact same throughout the repayment period that is entire. Read more