Student Loan Rates

Be smart about funding your education.

Student loans and financial aid can help you achieve the goals you have beyond college. We can help with Extra Credit, our student line of credit. You can use Extra Credit to pay for tuition, books, room and board, and other education-related expenses.

Here’s how you’ll benefit with Extra Credit:

  • You’ll save money with interest rates that are competitive with Stafford loans. Extra Credit interest rates are connected to the Wall Street Journal Prime Rate and can go as low as 4.00% APR (Annual Percentage Rate).
  • You’ll also save by borrowing what you need when you need it. With Extra Credit, you borrow the money as you need it, and only pay interest on what you borrow.
  • Save time by applying just once. Many programs require you to reapply year after year. With Extra Credit, you simply apply one time for all that you need. The money is then available whenever you need it.
  • Access your funds 24/7, by writing a line of credit check, using telephone banking or online banking.

All interest rates are effective as of July 20, 2017. 
At the Bank’s discretion, interest rates and terms may change at any time without notice.

Extra Credit – Student Line of Credit Annual Percentage Rate (APR)
Secured by Collateral* 4.00%
Unsecured** 7.00%


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*Secured Extra Credit Line:  No minimum draw is required. The APR is variable and may increase or decrease monthly on the billing date. The minimum APR is 4.00% and the maximum is 18.00%. The APR is based upon The Wall Street Journal Prime Rate minus .25%, but will never be lower than 4.00%. As of July 1, 2017, the APR based upon the Prime Rate minus .25% is 4.00%. The interest rate for your line is based upon your creditworthiness. The minimum credit line is $2,500. The credit line amount depends upon the appraised value and/or equity in your collateral, which may be your home or liquid collateral you own, such as CDs, stocks, bonds, savings or life insurance. Your minimum payments may not be sufficient to fully repay the principal that is outstanding on your line at the end of the term. If they are not, you will be required to pay the entire outstanding balance in a single payment.  **Unsecured Extra Credit Line: No minimum draw is required. The APR is variable and may increase or decrease monthly on the billing date. The maximum APR is 18.00%. The APR is based upon The Wall Street Journal Prime Rate plus 2.75%. As of July 1, 2017, the APR based upon the Prime Rate plus 2.75% is 7.00%. The interest rate for your line is based upon your creditworthiness. The minimum credit line amount is $2,500. Your minimum payments may not be sufficient to fully repay the principal that is outstanding on your line at the end of the term. If they are not, you will be required to pay the entire outstanding balance in a single payment. *A processing fee of $125 applies, however this fee will be waived for loan applications submitted before August 31,  2017.  In addition to the information above, for properties located in the state of Maryland, mortgage recordation taxes will be paid by the borrower.  Other rates and terms are available. Offer subject to change without notice.

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