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That's not 30% unless you repay real quick, if you paid it at the end of 5 years in a single payment that's 8.5%, 1.085^5 = 1.50. In straight amortization usin
by bretpiatt 5y ago
That's not 30% unless you repay real quick, if you paid it at the end of 5 years in a single payment that's 8.5%, 1.085^5 = 1.50.
In straight amortization using $30k tuition, $45k repayment, over 60 months is $750/mo which works out to 17.25% rate.
It isn't a great deal but it's not terrible vs. other low recourse private loan options.