TERI Professional Education Plan - PEP

TERI Professional Education Plan (TERI PEP) is for graduate students enrolled in a degree or certificate program.

• Student must be enrolled at least half-time at an approved institution
• Borrow from $1,000 to $45,000 annually if credit-worthy or with credit-worthy co-applicant; borrow from $1,000 to $18,500 annually on own signature
• If borrowing on own signature, cumulative debt limits apply to certain degree programs:

• May be used towards past due balances owed to school without having to be currently enrolled (past due invoice from school required for verification)
• Principal and interest payments begin six months after graduation. Medical students can request a second deferment of up to 4 years.
• Up to 25 year repayment term¹
• Interest Rate is Prime² - .50% and adjusts monthly
• Fees based on credit:

To apply now, you can:

• Apply ONLINE
• Apply by PHONE, call us at 1-877-370-2885, press 2 to speak with a representative who can take your application over the telephone.
• Apply by FAX, download the application and brochure. Fill it out and fax to 1-888-329-8374
• Apply by MAIL, download the application and brochure.

For additional information, you can:

• Call us at 1-800-2-FLEET-5 (1-800-235-3385)
• Submit a request for information now

¹For example, if you borrowed $5,000 at a variable interest rate of 3.75% 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 a credit-worthy 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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