We offer Private Student Loans through Mountain America. Because they are private, there are some things about the loan that you should know. First, these are not federally backed loans, so there are variable interest rates.
Starting interest rates range from 8.5 - 14% but can adjust higher or lower depending on the market. Interest rates are based upon the one month LIBOR and can change on a monthly basis. Also, repayment on the private loans starts from the first month that your loan disburses.
Payments are based upon your starting interest rate and any adjustments that occur while your loan is still outstanding. Payments are also based upon your loan term. Both starting interest rates and loan terms are determined at the time of approval.