What are the fees?
There are two fees that can be charged through student loans: The default fee helps offset default costs for all borrowers and maintains the Federal Family Education Loan Program. Law requires that the fee be deposited into a federally-owned reserve fund; this money is given to the federal government. The maximum fee is 1%. The origination fee is a fee paid by the borrower (unless waived) to the lender to cover administrative fees for his or her loan. As of July 1, 2008 the maximum origination fee is 1%. This maximum decreases .5% each consecutive year until it is 0% (ie it is .5% July 1, 2009, and 0% July 1, 2010).
• There is a $25 Annual Account Maintenance Fee, prorated across your accounts for the same beneficiary. That fee, however, is waived: When you invest regularly through our Automatic Asset Builder or by payroll deduction. • For each of the beneficiary’s accounts when at least one account is invested in the ACT Portfolio. • If your total balance for a beneficiary is $25,000 or more. If your combined account balance, regardless of beneficiaries, is $75,000 or more. • There is an annualized program fee of 0.28% charged to each portfolio, except the ACT Portfolio. Each portfolio bears its share of the expenses of the underlying mutual funds in which it invests. The program manager fee and underlying mutual fund expenses are reflected in each portfolio’s unit price. As with most investments, the portfolio also reflects some of the costs of the funds it invests in.
Our rate is $26.00 per hundred borrowed. This is one of the lowest rates on the market. 16. I want to apply for Payday Loan but I’m embarrassed. Everyone gets in a jam now and then. We understand. APL provides its clients a discreet way to apply using our online application. We provide 100% confidentiality to our clients.
Please refer to our fee schedule for a list of our fees. Our fee schedule can be accessed from our home page. Simply click Fees Schedules, located on the left-hand side of our home page under Popular Links. Make all checks or money orders payable to the Florida Department of State. Do not send cash.
