- Rates as low as 4.50% APR1
- Flexible repayment and in-school deferment options
- Instant decision on your application
- Trusted financing from your financial partner
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Disclosure: (1) 4.50% APR (Annual Percentage Rate) is a variable rate on Democracy FCU Student Loans and may be adjusted quarterly based on the publicly available Index. Any increase in the Index may increase the APR and may increase the amount of your monthly payment. As of April 1, 2017, the Prime index (Index), as published in the Wall Street Journal, used is 4.00%. For a new line of credit, the Index used is the rate as published on the first business day of the last month immediately preceding each new quarter. Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Index, Margin, Floor, and/or credit approval will depend upon the student borrower’s and co-borrower’s (if applicable) credit qualification. Applicants may apply with a creditworthy U.S. co-borrower which may result in a better chance of approval and/or lower interest rate. The Interest Rate will not exceed 18.00%, regardless of the Index. Margin will be disclosed at account opening. This Margin is added to the Index to determine the calculated interest rate. Floor rate is in effect any time the calculated interest rate is below the assigned Floor rate. The Floor rate will be disclosed at account opening. Payment example: For an $20,000 New Student Loan for a term of 60 months with a 4.50% APR, the monthly payment would be $372.86.