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Parent Loan Rates & Terms




We provide transparent pricing.

Parent Loan Rates and Terms.1 The tables below provide estimates for a $10,000 loan for 5, 7, 10, 15 and 20 year terms, including the 0.25% Auto-Pay Discount, depending upon the Credit Score you select.

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Fixed Rates


Terms Rate3 Repayment APR3 Number of Payments Monthly Payment4 Total Payments4
5 Year

%

%
60 $

$

7 Year

%

%
84 $

$

10 Year

%

%
120 $

$

15 Year

%

%
180 $

$

20 Year

%

%
240 $

$


Variable Rates5


Terms Rate3 Repayment APR3 Number of Payments Monthly Payment4 Total Payments4
5 Year

%

%
60 $

$

7 Year

%

%
84 $

$

10 Year

%

%
120 $

$

15 Year

%

%
180 $

$

20 Year

%

%
240 $

$

(Variable APRs and amounts subject to increase or decrease. The Variable Rate is based on an Index of the greater of the (A) 30-Day Average SOFR or the (B) forward looking term rate based on SOFR, plus a Margin. The lowest variable rate APR displayed is based upon the current SOFR Index of % plus a % Margin, minus the Auto-Pay Discount. The Variable Rate will adjust monthly and the loan payment will be re-amortized and may change monthly.)






Disclaimers


1. 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.


2. Credit score used is the Transunion FICO Score 8, which is based on information from TransUnion and may differ from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.


3. 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%. The Variable Rate is based on an Index of the greater of the (A) 30-Day Average SOFR or the (B) forward looking term rate based on SOFR, plus a Margin. The lowest variable rate APR displayed is based upon the current SOFR Index of % plus a % Margin, minus the Auto-Pay Discount. The Variable Rate will adjust monthly and the loan payment will be re-amortized and may change monthly. 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 SOFR 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 SOFR 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.


4. 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.


5. Brazos Parent Loan variable interest rates shown are indexed to the Thirty-Day Average Secured Overnight Financing Rate (SOFR). The SOFR 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%.