August, 21 2017
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Key Bank Achiever Loan Program
Key Bank Achiever Loans are a low cost financing option specifically designed to help families afford a K-12 private school education. The Achiever Loan offers:
Features and Benefits-
|Interest Rate Calculation||Variable Quarterly: tied to 3-Month LIBOR plus 3.85%
Fees 2% added to each disbursement
|Estimate Annual Percentage Rate (APR)||6.01%|
|Annual Loan Maximum||Cost of education less aid|
|Aggregate Loan Maximums||No limit|
|Repayment Options||Borrow one year of School, thereafter additional funds provided each year without application|
|Loan Repayment||20 years maximum|
Notice to Applicants: Key Education Resources® does not promote or make any representations regarding the performance of any institution. It is your responsibility to determine the quality of the institution and the programs offered.
For a $10,000.00 loan, the borrower will have a monthly payment of $71.00
for 240 months
The sample payment assumes the loan pays the school one-half of the annual
amount due in August and one-half in December
LIBOR is an acronym for London Interbank Offered Rate. It is the average of the interest rate paid on deposits of U.S. Dollars in the London, England financial market. U.S. capital markets also use LIBOR as an index. LIBOR rates are fixed at monthly maturities from 1 week to 12 months, but are generally used as 1-month, 3-month, 6-month and 1-year.
Key Bank Achiever Loans - eProgramSearch.com