3/13/2024 0 Comments Student loan refinance calculator![]() The lowest variable rate APR displayed is based on the current SOFR index of 5.34% plus a 0.25% margin, minus the Auto-Pay Discount. The variable interest rate is based on an index of the 30-day Average SOFR plus a Margin. ![]() Variable Rates and corresponding APRs may increase over the life of the loan, but will never exceed 9.90%. The highest APR calculation assumes the lowest creditworthy borrower that selects the Deferred Repayment option and makes no payment while in school for a period of 45 months (plus a 6 month grace period), with a 240 month repayment term.įixed Rates are set at the time the loan is made and will not change over the life of the loan. The lowest APR calculations assume the highest creditworthy borrower that selects the Immediate Repayment option and begins making payments after the loan is fully disbursed, with a 60 month repayment term. Not all borrowers receive the lowest rate. Certain other terms and conditions apply.Ĥ: Brazos Student Loan interest rate ranges are based upon the repayment term and options selected and the creditworthiness of the borrower or co-signer, and include the 0.25% Auto-Pay Discount. The Auto-Pay Discount only applies when full principal and interest payments are automatically drafted from a bank account and does not apply during periods of approved forbearance or deferment. The interest rate in effect will be reduced by 0.25% if either the borrower or cosigner authorizes automated (ACH) payments from any bank account. 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.ģ: AutoPay Discount. The first of the Brazos Managed Companies was organized in 1975 in Waco, Texas, as a secondary market for student loans. ![]() 1: Brazos Education Lending Corporation, a Texas non-profit managed by Brazos Higher Education, is the lender on all Brazos Loans.Ģ: Brazos Education Lending Corporation is a part of a group of several non-affiliated nonprofit companies that are all managed by Brazos Higher Education and are commonly referred to as the Brazos Managed Companies.
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