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| Bank Of America Private Loan | Bank of America Maximizer Loan | Bank of America TERI Loan | ||||||||||||||
| Deferred | Yes, six month grace | Yes, six month grace | Yes (Interest, or P&I) Deferred 48 months |
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| Term | Up to 20 years, $50 mo min | Depends on amount | 20 years | |||||||||||||
| Amount | Sky's the limit | $30k per year | How much you want? | |||||||||||||
| Rate | Variable, adjusted quarterly
In-school rates LIBOR + 1.00% to 2.75% Repay rates LIBOR+ 3% to 3.9% ( LIBOR rate for April 1 through June 30, 2004 is 1.11%) |
Variable, adj. quarterly LIBOR Index plus a margin based on the loan type |
Variable, adj quarterly LIBOR Index plus a margin of 2.75% in deferment and 3.55% in repayment |
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| Fee | 0% to
7% ( fee and repayment example for the loan type you select will be presented to you during the Apply Online) |
5% -
10.5% (Depends on loan type, repayment type, cosigner credit) |
0% to 4% (Depends on amount, credit, etc) |
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| Student Loan Express Undergrad Loan | Sallie Mae Signature Loan | MEFA | ||||||||||||||
| Deferred | Yes, six month grace | Yes, six month grace | Yes, as an option | |||||||||||||
| Term | 20 years | Up to 25 years | 15 Years | |||||||||||||
| Amount | $25,000 per year | No limit with co-borrow signature | Whatever it takes | |||||||||||||
| Rate | Variable, adjusted
quarterly Rate is 3 month Financial Commercial Rate + 3.75% Rate reduced .25% for auto debits |
Variable, change quarterly Prime Rate + some value which is tiered, based on credit rating |
For 2003-2004: Fixed at 6.75% or Variable at 4% |
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| Fee | 6.50% | 3.75% | ||||||||||||||
