CompleteEd uses variable rates on our private student loans, and they are adjusted quarterly. The interest rate is based on the current prime rate plus a margin. Interest begins accruing the day the loan funds are paid out.

On average, the variable interest rate for CompleteEd loans is PRIME + a margin of 2.25% up to 8.25% depending on the creditworthiness of the student/cosigner. The following are also considered when determining the interest rate of the loan:

Credit Scores:

The credit history of the student and the cosigner are evaluated when setting the interest rate on Complete Ed private student loans. Those with good credit scores are likely to get better interest rates on their loans. To learn more about your credit score and how it affects you, visit www.annualcreditreport.com.

The better your credit score, the lower your interest rate.

*Origination Fee will be added to the loan amount (i.e. if loan of $25,000 and origination fee of $750, then $25,750 is borrowed)

The interest rate for this loan will change quarterly on each January 1st, April 1st, July 1st, and October 1st (i.e. interest rate change date) if the Prime Index changes

Prime Index Calculation

The Current Interest Rate Index is the Prime Rate published in the "Money Rates" section of the Wall Street Journal on the first business day of the month preceding any month of the "Interest Rate Change Date". If the first day of the month is not a business day, the Wall Street Journal is not published that day, or the "Money Rates" section is not published that day, the next day the "Money Rates" column is published will be used to determine the index. "Business Day" is defined for purposes of this paragraph only as any day the banks in New York are open for the transaction of business.

Credit Union Member Discount:

There is an instant .25% APR discount for credit union members. It's important to be a credit union member, or be willing to join one, to take advantage of this discounted rate. It can mean a significant savings over the life of the loan. For example, on a loan of $10,000, borrowed on standard terms, the monthly payment would be approximately $114 a month at 8.0%. With a .25% interest savings you receive with our discounted rate, that represents a savings of almost $727 over the life of the loan. Use our calculator to estimate your savings!

If you are not a credit union member, we can help you. Learn more about the benefits of becoming a credit union member in the "About Us" section.

Automatic Payment Discount:

There is an additional .25% APR savings † during repayment for those who sign up for automatic payments.

† Discount applies while ACH is in effect. 3 consecutive non-sufficient funds will terminate ACH and cause discount to cease.