Disclosures & Disclaimers



The Brazos Higher Education Service Corporation, Inc. (Brazos Higher Education) is a nonprofit corporation. Brazos Education Lending Corporation (Brazos) is an independent non-affiliated nonprofit company that is managed by Brazos Higher Education under a management contract. Brazos Education Lending Corporation is the lender for all Brazos Loans marketed on this website. This website is the property of The Brazos Higher Education Service Corporation, Inc., and is made available to Brazos Education Lending Corporation through a management contract. Neither Brazos Higher Education, nor Brazos Education Lending Corporation is affiliated with any colleges or universities. No colleges or universities (including any listed on studentloans.com, if any) endorse, promote or recommend Brazos loans.


Brazos Refinance Loan Disclaimers

Student Loan Refinance Disclaimers

1. Brazos Refinance Loan fixed rates from % APR to % APR (with Auto-Pay Discount). Variable rates from % APR to % APR (with Auto-Pay Discount). Interest rates on Brazos loans are capped at 9.90%. Lowest variable rate of % APR assumes current 1 month LIBOR rate of % plus a % margin minus the 0.25% Auto-Pay Discount. Not all borrowers receive the lowest rate. If approved for a Brazos loan, the fixed or variable interest rate offered will depend on your creditworthiness, the term of the loan and other factors, and will be within the ranges of rates listed above. For the Brazos variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases.

Auto-Pay Discount. The interest rate in effect will be reduced by 0.25% if either the borrower or the cosigner authorizes automated (ACH) payments from any bank account. This ACH interest rate reduction, referred to as the Auto-Pay Discount, applies only when full principal and interest payments are automatically drafted from a bank account. This interest rate reduction will not continue to apply during periods of approved forbearance or deferment. The Auto-Pay Discount will terminate if the automatic bank account payments discontinue or there are any three instances of insufficient funds at any time during the term of the loan. A borrower may requalify upon reauthorization of automatic payments from a valid bank account.

2. The tables below contain the estimated monthly payments, estimated total interest, and estimated total cost of a $10,000 loan at the median fixed and variable rates for each of the terms we offer.

Fixed Rates

Term Median APR Number of Payments Estimated Monthly Payment Estimated Total Interest Estimated Total Cost
5 Year

%
60 $

$

$

7 Year

%
84 $

$

$

10 Year

%
120 $

$

$

15 Year

%
180 $

$

$

20 Year

%
240 $

$

$

Variable Rates

(Variable APRs and amounts subject to increase or decrease. Variable rates are indexed to the one-month LIBOR rate and assume a one-month LIBOR rate of %.)

Term Median APR Number of Payments Estimated Monthly Payment Estimated Total Interest Estimated Total Cost
5 Year

%
60 $

$

$

7 Year

%
84 $

$

$

10 Year

%
120 $

$

$

15 Year

%
180 $

$

$

20 Year

%
240 $

$

$

3. Brazos Education Lending Corporation (Brazos) is a part of a group of several non-affiliated nonprofit companies that are all managed by The Brazos Higher Education Service Corporation, Inc. and are commonly referred to as the Brazos Managed Companies. The first of the Brazos Managed Companies was organized in 1975 in Waco, Texas, as a secondary market for student loans. Since that time, the Brazos Managed Companies have, on a combined basis, served an estimated 2 million student borrowers and have helped fund an estimated $30 billion in student loans.

4. Credit Review and Approval. If you choose to apply for a Brazos Refiannce Loan and continue your application past the pre-credit eligibility stage, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for Brazos to be able to issue you a Brazos loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.

The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification before the final loan approval.

5. State Eligibility. Brazos Refinance Loans are only available to residents of Texas.

6. Federal Loan Alternatives. There are currently no Federal Loan Alternatives that allow the consolidation of private education loans. Federal Consolidation Loans only allow for the consolidation of federal student loans and may not be used to consolidate private education loans. The interest rate for the federal Direct Consolidation Loan equals the weighted average interest rate of the loans being consolidated, rounded up to the nearest one-eighth of one percent.

Think carefully before using a Brazos loan to pay off your federal student loans. If you refinance your federal student loans with a Brazos loan, you will lose federal student loan benefits such as income driven repayment or loan forgiveness options that may be available to federal student loan borrowers. In addition, federal student loans offer deferment and forbearance options that are not available to you if you take out a Brazos loan. You may qualify for a federal education loan. For additional information about a consolidation option for federal loans, contact the Department of Education at: www.studentloans.gov.

7. Find Out About Other Loan Options. Federal education loans can also be consolidated into a Federal Direct Consolidation Loan, which may provide you with features and benefits not available with non-federal refinancing loans such as this one. For more information about Federal Loan Consolidation options, visit the Department of Education’s web site at studentloans.gov.


Student Loan Refinance Loans Rates & Terms

8. Using the Student Loan Refinance Rates & Terms resource does not constitute an offer to receive a loan and will not solicit a loan offer. Any rates, terms, calculated payments and savings will depend on the actual amounts for which you are approved, should you choose to apply.

The interest rate for your loan may be based, in part, on whether you have a creditworthy cosigner. Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Your interest rate may be higher without a creditworthy cosigner.

9. Credit score used is the Transunion FICO Score 4, which is based on information from TransUnion and may differ from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.

10. Brazos Refinance Loan rates as of . The rates, terms and calculated payments are estimates only. Calculated monthly payments and total payments based on a $10,000 loan and assume that the interest rate remains constant throughout the life of the loan and that the loan will be repaid in equal monthly installments. This resource also assumes that you will pay continuously throughout the repayment period with no breaks for forbearance or prepayments. We cannot guarantee the accuracy or completeness of the information or the Find my Rate resources applicability to your circumstances.

11. Brazos Refinance Loan variable interest rates shown are indexed to the one-month LIBOR rate. The one-month LIBOR rate is currently % and may change monthly. This may cause your payment to increase or decrease after disbursement. Variable interest rates are capped and will never exceed 9.90%.


Refinance Calculator

12. Credit score used is the Transunion FICO Score 4, which is based on information from TransUnion and may differ from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.

13. Brazos Refinance Loan rates as of . Brazos Refinance Loan rates shown include the 0.25% Auto-Pay discount, available to borrowers who have payments automatically deducted from a bank account.

Using the Loan Calculator resource does not constitute an offer to receive a loan and will not solicit a loan offer. Any rates, terms, calculated payments and saving will depend on the actual amounts for which you are approved, should you choose to apply.

14. The Brazos Refinance Loan rates, terms, calculated payments, total interest, and total savings amounts are estimates only. Calculated monthly payments and total payments based on information provided by you and assume that the interest rates remains constant throughout the life of the loans and that the loans will be repaid in equal monthly installments. Total remaining interest on your loan is an estimate of the amount of interest you will pay in the future on your existing loan, and excludes previous interest payments. This resource also assumes that you will pay continuously throughout the repayment period with no breaks for forbearance or prepayments. We cannot guarantee the accuracy or completeness of the information or the Refinance Calculator resources' applicability to your circumstances.

The interest rate for your loan may be based, in part, on whether you have a creditworthy cosigner. Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Your interest rate may be higher without a creditworthy cosigner.

15. Brazos Refinance Loan variable interest rates shown are indexed to the one-month LIBOR rate. The Loan Calculator assumes a 1 month LIBOR rate of %. The actual 1 month LIBOR rate may differ and change monthly. This may cause your payment to increase or decrease after disbursement. Variable interest rates are capped and will never exceed 9.90%.


Refinance Guide

16. Federal Reserve Bank of New York Consumer Credit Panel and Equifax, 2016 Student Loan Update; https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/xls/sl_update_2016.xlsx.

17. Board of Governors of the Federal Reserve System (US), Student Loans Owned and Securitized, Outstanding [SLOAS], retrieved from FRED, Federal Reserve Bank of St. Louis; http://fred.stlouisfed.org/series/SLOAS.

18. The Institute for College Access & Success. (2016). Student Debt and The Class of 2015. Retrieved from http://ticas.org/sites/default/files/pub_files/classof2015.pdf.

20. Credible. (2016). 2016 Credible Student Loan Refinancing Report. Retrieved from https://www.credible.com/blog/wp-content/uploads/2016/11/2016_credible_student_loan_refinancing_report.pdf

Refinancing Federal Loans

21. While refinancing government loans as well as private loans may help many borrowers, federal loans have certain benefits that can help borrowers who experience financial distress. Private loans typically don’t have the same benefits. Everyone’s situation is different, so think carefully about refinancing your government loans and talk about it with a trusted advisor.

Brazos Parent Loan Disclaimers

1. Brazos Parent Loan fixed rates from % APR to % APR (with Auto-Pay Discount). Variable rates from % APR to % APR (with Auto-Pay Discount). Interest rates on Brazos loans are capped at 9.90%. Lowest variable rate of % APR assumes current 1 month LIBOR rate of % plus a % margin minus the 0.25% Auto-Pay Discount. Not all borrowers receive the lowest rate. If approved for a Brazos Parent Loan, the fixed or variable interest rate offered will depend on your creditworthiness, the term of the loan and other factors, and will be within the ranges of rates listed above. For the variable rate Brazos Parent loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases.

Auto-Pay Discount. The interest rate in effect will be reduced by 0.25% if either the borrower or the cosigner authorizes automated (ACH) payments from any bank account. This ACH interest rate reduction, referred to as the Auto-Pay Discount, applies only when full principal and interest payments are automatically drafted from a bank account. This interest rate reduction will not continue to apply during periods of approved forbearance or deferment. The Auto-Pay Discount will terminate if the automatic bank account payments discontinue or there are any three instances of insufficient funds at any time during the term of the loan. A borrower may requalify upon reauthorization of automatic payments from a valid bank account.

2. The tables below contain the estimated monthly payments, estimated total interest, and estimated total cost of a $10,000 loan at the median fixed and variable rates for each of the terms we offer.

Fixed Rates

Term Median APR Number of Payments Estimated Monthly Payment Estimated Total Interest Estimated Total Cost
5 Year

%
60 $

$

$

7 Year

%
84 $

$

$

10 Year

%
120 $

$

$

15 Year

%
180 $

$

$

20 Year

%
240 $

$

$

Variable Rates

(Variable APRs and amounts subject to increase or decrease. Variable rates are indexed to the one-month LIBOR rate and assume a one-month LIBOR rate of %.)

Term Median APR Number of Payments Estimated Monthly Payment Estimated Total Interest Estimated Total Cost
5 Year

%
60 $

$

$

7 Year

%
84 $

$

$

10 Year

%
120 $

$

$

15 Year

%
180 $

$

$

20 Year

%
240 $

$

$

3. Brazos Education Lending Corporation (Brazos) is a part of a group of several non-affiliated nonprofit companies that are all managed by The Brazos Higher Education Service Corporation, Inc. and are commonly referred to as the Brazos Managed Companies. The first of the Brazos Managed Companies was organized in 1975 in Waco, Texas, as a secondary market for student loans. Since that time, the Brazos Managed Companies have, on a combined basis, served an estimated 2 million student borrowers and have helped fund an estimated $30 billion in student loans.

4. Credit Review and Approval. If you choose to apply for a Brazos Parent Loan and continue your application past the pre-credit eligibility stage, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for Brazos to be able to issue you a Brazos loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.

The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification before the final loan approval.

5. State Eligibility. Brazos Parent Loans are only available to residents of Texas.


Parent Loan Rates & Terms

6. Using the Parent Loan Rates & Terms resource does not constitute an offer to receive a loan and will not solicit a loan offer. Any rates, terms, calculated payments and savings will depend on the actual amounts for which you are approved, should you choose to apply.

The interest rate for your loan may be based, in part, on whether you have a creditworthy cosigner. Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Your interest rate may be higher without a creditworthy cosigner.

7. Credit score used is the Transunion FICO Score 4, which is based on information from TransUnion and may differ from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.

8. Brazos Parent Loan rates as of . The rates, terms and calculated payments are estimates only. Calculated monthly payments and total payments based on a $10,000 loan and assume that the interest rate remains constant throughout the life of the loan and that the loan will be repaid in equal monthly installments. The tables assume that the loan is disbursed to the school in two equal installments six months apart, and that interest which accrues during this time is not paid but is capitalized and added to the principal balance at the time the loan enters repayment. The monthly payments and total payments are calculated on the principal amount at repayment, including capitalized interest. This resource also assumes that you will pay continuously throughout the repayment period with no breaks for forbearance or prepayments. We cannot guarantee the accuracy or completeness of the information or the Find my Rate resources applicability to your circumstances.

9. Brazos Parent Loan variable interest rates shown are indexed to the one-month LIBOR rate. The one-month LIBOR rate is currently % and may change monthly. This may cause your payment to increase or decrease after disbursement. Variable interest rates are capped and will never exceed 9.90%.


Parent Loan Calculator

10. The rates, terms, calculated payments, total interest, and total savings amounts are estimates only. The calculator assumes that the amount of the financial need is disbursed to the school in two equal installments six (6) months apart. Capitalized interest is calculated during this six month period at the interest rates shown. This capitalized interest is added to the amount of financial need to arrive at the estimated balance of the loan when repayment begins. Estimated payments are based upon the projected balance at repayment, including capitalized interest. Calculated monthly payments and total payments are based on information provided by you and assume that the interest rates remains constant throughout the life of the loans and that the loans will be repaid in equal monthly installments. Please note that the interest rate will not remain constant for a variable rate loan although it is assumed to remain constant for purposes of this calculator. This resource also assumes that you will pay continuously throughout the repayment period with no breaks for forbearance or prepayments. We cannot guarantee the accuracy or completeness of the information or the Refinance Calculator resources' applicability to your circumstances.

Using the Loan Calculator resource does not constitute an offer to receive a loan and will not solicit a loan offer. Any rates, terms, calculated payments and saving will depend on the actual amounts for which you are approved, should you choose to apply.

11. Credit score used is the Transunion FICO Score 4, which is based on information from TransUnion and may differ from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.

12. Direct PLUS interest rate is the interest rate for loans first disbursed on or after July 1, 2017 and on or before June 30, 2018. The rate assumes a 0.25% interest rate reduction for borrowers that authorize automated payments from a bank account. The calculator also assumes a 4.264% origination fee for Direct PLUS loans first disbursed on or after October 1, 2017 and before October 1, 2018. These amounts may vary depending upon when the first disbursement on your loan occurred or will occur.

Direct PLUS interest rates and fees are subject to change by the Federal Government. Always visit http://studentaid.ed.gov/ for the most current information about federal loan programs.

13. Brazos Parent Loan rates as of . Brazos Parent Loan rates shown include the 0.25% Auto-Pay Discount, available to borrowers who have payments automatically deducted from a bank account.

Variable interest rates shown are indexed to the one-month LIBOR rate. The Loan Calculator assumes a 1 month LIBOR rate of %. The actual 1 month LIBOR rate may differ and change monthly. This may cause your payment to increase or decrease after disbursement, which may increase or decrease the Total Savings over time. Your interest rates are capped and will never exceed 9.90%.

The interest rate for your loan may be based, in part, on whether you have a creditworthy cosigner. Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Your interest rate may be higher without a creditworthy cosigner.

BRAZOS RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Brazos loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Program restrictions, other terms, and conditions apply. All loans are subject to individual approval and adherence to eligibility requirements and underwriting guidelines. Not all borrowers receive the lowest rate. If approved, your actual rate will be within the range of rates listed in this website and will depend on a variety of factors, including whether your loan has a fixed or variable interest rate, the term of the loan and your credit score. Rates and Terms are subject to change at any time without notice. Brazos loans are originated by Brazos Education Lending Corporation.

None of the information contained in this website constitutes a recommendation, solicitation or offer by Brazos or Brazos Higher Education to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.


How can we improve this site? Let us know.