Private Student Loans Rates & Terms1View Rates and Terms

Variable Rate2View Conditions for Variable Rates Loans

The following table illustrates the estimated annual percentage rate (APR), monthly payment, and total payment for a $10,000 loan with a 10 year loan term. The examples assume a 4-year in-school period and a 6-month grace period (54 total months) before you are required to make full principal and interest payments.4View Terms for Full Repayment Period During the in-school and grace period, borrowers have the option to either make a fixed payment of $25 each month5View Conditions for Fixed Monthly Payments or to pay only the interest that accrues on the loan each month. All rates below are shown with the Autopay Discount (0.25%)3View Conditions for Autopay Discount. There are no application or origination fees, and no prepayment penalties.

Repayment Term
beginning after the in-school & grace period
APR
with autopay3View Conditions for Autopay Discount
Monthly In-School Repayment Option6View Minimum Monthly Payment Condition Estimated Monthly Payment6View Minimum Monthly Payment Condition
following in-school & grace period
Estimated Total Payment
10 Year
120 payments
3.84% – 8.87% Proactive5View Conditions for Fixed Monthly Payments $25.00 $104.66 – $166.73 $13,909.20 – $21,357.60
3.88% – 9.46% Interest Only7View Conditions for Interest Only Payments $32.33 - $78.83 $100.68 – $129.18 $13,827.60 – $19,758.60
Data in table reflects rates as of 12/07/2019.

Fixed Rate Loans

The following table illustrates the estimated annual percentage rate (APR), monthly payment, and total payment for a $10,000 loan with a 10 year loan term. The examples assume a 4-year in-school period and a 6-month grace period (54 total months) before you are required to make full principal and interest payments.4View Terms for Full Repayment Period During the in-school and grace period, borrowers have the option to either make a fixed payment of $25 each month5View Conditions for Fixed Monthly Payments or to pay only the interest that accrues on the loan each month. All rates below are shown with the Autopay Discount (0.25%)3View Conditions for Autopay Discount. There are no application or origination fees, and no prepayment penalties.

Repayment Term
beginning after the in-school & grace period
APR
with autopay3View Conditions for Autopay Discount
Monthly In-School Repayment Option6View Minimum Monthly Payment Condition Estimated Monthly Payment6View Minimum Monthly Payment Condition
following in-school & grace period
Estimated Total Payment
10 Year
120 payments
5.36% – 9.07% Proactive5View Conditions for Fixed Monthly Payments $25.00 $120.74 – $169.71 $15,838.80 – $21,715.20
5.50% – 9.69% Interest Only7View Conditions for Interest Only Payments $45.83 - $80.75 $108.53 – $130.44 $15,498.60 – $20,013.30
Data in table reflects rates as of 12/07/2019.

How is my loan payment calculated?

The monthly payment for your loan and the rate by which it’s calculated is dependent on a number of factors, including the term length and whether your loan is a variable or fixed rate, depending on what options are offered to you. Interest rates for fixed rate loans do not change throughout the loan term, while interest rates for variable rate loans may fluctuate up or down with a market index which will affect your monthly payment amount due. St. Cloud Financial Credit Union does not charge any application or origination fees, and there are no prepayment penalties. Additionally, your rate may be reduced by 0.25% rate if you enroll in autopay3View Conditions for Autopay Discount.