Bank Name	Rates	Fees
		Immediate or Interest Only Repayment	Deferred until after School Repayment
Bank of America	LIBOR plus 2.4%	7.0%	8.5%

*All fees added and financed to principal loan amount

You and/or your co-signer must be a Canadian citizen.Co-signers must:

Have an established satisfactory credit history. Be employed or have sufficient income to meet current liabilities, including the CanHELP loan. Have a stable residency and employment history.

For current PRIME and LIBOR rates please CLICK HERE 

*LIBOR = London Interbank Offered Rate, a base index used in setting rates for U.S. capital markets. Rate used is the quarterly average of one-month LIBOR rates.

Option 1 Immediate Repayment
You begin making payments of principal and interest 45 days after the disbursement of your loan.

Option 2 Interest Only Repayment
You begin making interest-only payments 45 days after the disbursement of your loan. Principal and interest payments then begin 45 days after graduation.

Option 3 Deferred Principal and Interest Repayment
You defer payment of principal and interest for up to four consecutive years while enrolled in school. Your first principal and interest payments become due 6 months after you graduate. Any unpaid interest accrued during this period will be capitalized before you commence repayment.

Repayment terms vary between 10 and 25 years, based on the cumulative amount borrowed; minimum monthly payment allowed is US $50. There are no penalties for early repayment.

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