Refinance Student Loans Rates & Terms1View Rates and Terms
Fixed Rate Loans
The following tables illustrate the estimated annual percentage rate (APR), monthly payment, and total payment for a $10,000 loan with various terms. The lower rate displayed in the rate range below assumes a 0.25% reduction (subject to the floor rate) upon borrower enrolling in automatic payments3. There are no application or origination fees, and no prepayment penalties.
Regular Repayment Plan
The Regular Repayment Plan maintains one payment structure over the loan term. Here is an example of a borrower with a $10,000 loan balance on the Regular Repayment Plan:
with autopay3View Conditions for Autopay Discount
|Estimated Monthly Payment4View Minimum Monthly Payment Condition||Estimated Total Payment|
|5 Year 60 payments||4.50% – 6.50%||$186.43 – $195.66||$11,185.81 – $11,739.69|
|7 Year 84 payments||5.00% – 6.75%||$141.34 – $149.71||$11,872.48 – $12,575.44|
|10 Year 120 payments||6.00% – 8.00%||$111.02 – $121.33||$13,322.46 – $14,559.31|
|15 Year 180 payments||6.75% – 9.50%||$88.49 – $104.42||$15,928.37 – $18,796.04|
|Data in table reflects rates as of 9/24/2023.|
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. Union Building Trades Federal 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.