Private Student Lending Solution Rates
Fill the education funding gaps with DCU's education lending solutions
- Private Lending Solutions
No application fees and no prepayment penalties.
The Annual Percentage Rate (APR) for our undergraduate private education line of credit is variable1 and is based on the Prime index2 plus a margin.
|Terms / Features||Undergraduate Rates3|
|Rate Index||Annual Percentage Rate|
|As low as Prime plus 2.50%||between 7.50% and 11.00% APR|
Rates are effective .
- The Annual Percentage Rate is subject to increase after consummation. Your interest rate is variable and may be adjusted quarterly on each January 1, April 1, July 1 and October 1 (Adjustment Date) based on the Prime index as published in the Wall Street Journal on the first business day of the month immediately prior to the Adjustment Date (e.g., December, March, June and September). Any increase in the index may increase the APR and the amount of your monthly payment.
- The "Index" for the quarter beginning October 1st, 2018, is 5.00%, which was the Prime index published in the Wall Street Journal on the first business day of September 2018.
- Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Interest Rate, Margin, Floor, and/or credit approval depends upon the credit qualifications of the student borrower and co-borrower (if applicable). Student borrowers may apply with a creditworthy co-borrower which may result in a better chance of approval and/or lower interest rate.
- The APR will not exceed 18.00%, or fall below the Floor rate regardless of the Index. Any increase in the Index may increase the APR and the amount of your monthly payment.
- Margin will be disclosed at account opening.