How are these rates?

[Tools McTool]

Deferral Period Margin 5.55

Repayment Period Margin 5.55

Loan Originaton Fee 8.55

 

Can anyone give me a quick rundown of what exactly each one means? How do they compare to most private student loans?

They are TERI loans through Navy Federal.

 

I can't call them right now, I'm chasing my 17 month old boy!

 

Thanks a million!

Tools

[Tools McTool]

I'm pretty sure it's LIBOR+5.55... If so, not so hot rates.

 

They are private undergraduate loans.

 

Tools

[TxQuiltGirl]

I really can't say, but as I think I've mentioned before, private loans are always way more $$ than federal. I've seen comments about rates being as high as 18% ... Average around here seems to be in the 15% range ...

[Tools McTool]

If I am correct it's LIBOR @ 5.4 % + 5.55% margin. Making it 10.9%

I

'm just not sure if I'm right???

 

Tools

[TxQuiltGirl]

I think that's correct. Which would actually make it a pretty decent rate for a private SL.

[Tools McTool]

I was hoping you'd say that!

 

Thanks

Tools

[Tools McTool]

Got the loan today I was right about the rate. It is $12,000 at 10.9% over a repayment period of 20 years with no penalty for early payment. The deferment period is four years + six months.

 

Thanks for the help!

Tools

[ignoranceIsn'tBliss]

Got the loan today I was right about the rate. It is $12,000 at 10.9% over a repayment period of 20 years with no penalty for early payment. The deferment period is four years + six months.

 

Thanks for the help!

Tools

 

What rate does the libor rate change at? monthly, quarterly, bi annual?? And what is the capitalization rate? Every calender quarter?

[Tools McTool]

Libor = quarterly. I'll have to check the other.

 

Tools