The APR calculation also assumes that no payments are made by the consumer until 4.5 years (estimated in-school/grace period) after the first disbursement is made.
Interest that accrues during in-school and grace periods (if not paid) is added to the balance when the loan enters repayment.
It can be used for undergraduate and graduate classes.
Once BND receives both signed documents, your loan request will be updated and a Loan Final Disclosure will be sent to you the following business day.
Smart Money Tip The Loan Final Disclosure is the last step in the loan process and it gives you another opportunity to cancel your loan without any penalty.
APPLY NOW Generally, there is a ,000 maximum loan limit for undergraduate students and a ,000 maximum loan limit for graduate students. You may not borrow more than your school certifies you will need.
*The APR calculation assumes a loan of ,000, two disbursements 120 days apart, a fixed interest rate of 4.74% or a variable interest rate of 3.93%, a loan fee BND pays for you and a 10-year repayment term.