|All Student Loans||6.25% - 10.25%
repayment interest rate reductions available
|Notre Dame Federal Credit Union recommends using the STudent Alternative Resource (STAR) Loan as a supplemental funding source ONLY after exhausting all other opportunities available from Federal student loans, education grants, and scholarships. As always, taking on debt for any reason should be done deliberately and only for amounts needed. Notre Dame FCU reserves the right to modify or discontinue benefits at its discretion and without notice.|
APR is Annual Percentage Rate. This loan has a variable interest rate, that is based on a publicly available index, Prime. Your rate will be calculated each quarter by adding a margin between 2.00% and 6.00% to the highest U.S. prime rate published in The Wall Street Journal.
Borrowers may choose to defer payments until 6 months after graduation. If you choose to make interest payments or full payments while in school, you may be eligible for rate discounts. Any change in payment plan may result in a comparable change in rate benefits. To be eligible for the rate reduction, interest payments require a minimum $30 monthly payment; full payments require a minimum $50 monthly payment.
To be eligible for the interest rate reduction for automatic payments, you must be signed up for automatic payments through University Accounting Service. If at any time automatic payments are stopped, the rate discount will not be applied.
Regardless of the repayment option you choose while in school, you will be eligible to receive the full repayment rate discount when you graduate and enter repayment. The in-school benefit will end and you will be eligible to receive a 1.00% rate discount upon entering repayment.