IDEAL Undergraduate Program

Maximum loan amount:
$12,500 per school year

Minimum loan amount:
$1000

Aggregate IDEAL Program:
$60,000

Interest rate (adjusted quarterly):
90-day LIBOR + 3.00%

Note: To verify index information used in our interest rate calculation, go to: www.publicdebt.treas.gov

Insurance fee:
A cosigner is required. 3.5% with both borrower and cosigner creditworthy. 5% with only a creditworthy cosigner.

Repayment fee:
3% of loan balance which will be added to the outstanding balance of the loan. Interest will be capitalized at the time of repayment and annually thereafter.

Repayment of your IDEAL Program loan begins six months after graduation or separation from the school.

Enrollment:
You must be enrolled, or accepted for enrollment, on at least a half time basis in a degree program at an approved school. You may be enrolled on a less than half time basis if you are employed full time.

You may apply for a loan by filling out an online application
or download an application form, fill it out, and mail it to IDAPP.