What is the interest rate discount if I use EDA?
As an incentive to use the EDA repayment method, the Direct Loan Program is offering a quarter point (.25%) reduction in your interest rate for repayment periods, effective November 1, 1999. Your interest rate reduction will occur automatically once you are successfully placed on EDA. This discount will not apply during an in-School status, grace, deferment, or forbearance period. The U.S. Department of Education may discontinue this discount at anytime without notice. Note: Borrowers in an in-School status are not eligible for EDA Back to top • Download an EDA Application The EDA Application Form is in a .pdf (portable document format). To download and view a .pdf document, you need to have Adobe Acrobat Reader software installed on your computer. This software is free to download on the Internet and easy to use. You can obtain a copy with complete download instructions by visiting Adobe’s Web Site.
