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Repayment Information


 

Repayment for private loans is very lender specific. Repayment options typically mirror that of the federal loans; however, each lender is different.  Repayment terms can range from five years to twenty years.  Rates on most private loans are variable.  Some lenders change their rates quarterly, bi-annually, or annually.  Be sure to check with your lender to find out how often they will change your rate, and what this will mean for your minimum payment.

The bottom line is this: if you have private loans, contact your lender.  They will be able to best assist you with your repayment options and terms.

Beginning the repayment of your private loans can be stressful and confusing.  If your lender cannot aptly explain things to you, then please call us.  We will do our utmost to help you understand the language so that you know what to expect as you enter repayment.