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TruFit Student Loan®
See the TruFit Student Loan page
for important disclosure information
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A smart and affordable way to cover your remaining college expenses
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Up to total cost of attendance minus financial aid
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Up to 6 months after graduation
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15 years
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Fixed Option: As low as 6.75%1
Variable Option: As low as 1-month LIBOR plus 2.70%1
APR and repayment examples:
Fixed rate
Variable Rate
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Federal Direct Stafford Loan
(subsidized2)
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Guaranteed loans based on financial need
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$3,500 - $8,500/yr depending on yr in school
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Up to 6 months after graduation
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10 years
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3.40%3
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Federal Direct Stafford Loan
(unsubsidized)
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Guaranteed loans open to all students regardless of financial need
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$5,500 - $20,500/yr depending on yr in school
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Up to 6 months after graduation
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10 years
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6.80%3
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Federal Direct PLUS Loan
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Loans for parents and graduate students based solely on your good credit
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Up to total cost of attendance minus financial aid
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60 days after full disbursement
Parents may defer payments while the student is enrolled at least half-time
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10 years
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7.90%4
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1 Interest rates as low as one-month plus 2.20% if borrowers take advantage of the 0.50% interest rate reduction benefit for automating payment from any eligible Charter One account while in repayment. Borrowers must reside in the following states in order to open an eligible account: CT, DE, MA, NH, NJ, NY, OH, IL, MI, PA, RI, VT. Variable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of May 1, 2012 the one-month LIBOR rate is 0.24%. Fixed interest rates may vary from 6.75%-12.25% APR based upon applicable terms and presence of a cosigner. The fixed rate is on a ten (10) year repayment term. Subject to additional terms and conditions and rates subject to change at any time. Charter One reserves the right to modify interest rates and loan margins at any time without notice. Such changes will only apply to applications taken after the effective date of change. 2Subsidized Stafford Loans are offered to students with a demonstrated financial need.
3Beginning July 1, 2011 through June 30, 2012 the fixed rate for subsidized Direct Stafford Loans for undergraduate students will be 3.40%. Unsubsidized Direct Stafford Loans will remain at 6.80%.
4Effective July 1, 2006, the fixed rate, set by the federal government, is 7.90%.
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