September 21, 2009

What Student Borrowers Must Be Told About Private Loans

New federal rules require private providers of student loans to disclose specific information about the costs and terms. Here are key facts that potential borrowers must now be told when they apply:

  • The range of possible starting interest rates
  • The maximum possible interest rate over the life of the loan
  • Loan fees, including those for the application, origination, guarantee, repayment, late payments, and returned check
  • An example of how much a loan

Digital or Print Subscription

Web Pass

Already have an account? Log In Now.