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TERI
Degreed Undergraduate Alternative Loan - DUAL
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TERI Degreed Undergraduate Alternative Loan (TERI DUAL) is
for degreed undergraduate students seeking an additional undergraduate
degree or for teachers completing credential programs.
- Students who are
receiving a 2nd undergraduate degree or teaching credentials; and
enrolled at least half-time at an approved institution
- Borrow from $1,000 up to
the cost of education less aid if credit-worthy or with
credit-worthy co-applicant; borrow from $1,000 to $15,000 annually
on own signature
- Principal and interest
payments begin six months after graduation
- Up to 25 year repayment
term1
- Interest Rate is Prime2
- .50% and adjusts monthly
- Fees based on credit:
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-6.50% if student or co-signer is
credit-worthy
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-8% at disbursement and additional 2% at
repayment if borrowing on own signature
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Fill it out and mail it to:
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Fleet Bank c/o TERI
P.O. Box 312
Boston, MA 02117-0312
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For additional information, you can:
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1For
example, if you borrowed $5,000 at a variable interest rate of 4.25%
for a 10-year repayment term, your APR would be 5.12% and your 120
monthly payments would be $60.60. This assumes a 30-month in-school
deferment with interest capitalized once at the start of repayment,
6.50% fee included in the loan amount and eligible co-signer on the
loan. Additional terms and conditions may apply.
2The
interest rate is variable, based on the Prime Rate as published in The
Wall Street Journal minus .50%, which is 3.75% as of
1/1/2003
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