Fee-help Query (1 Viewer)

[Calla]

Hey guys,

Just have a question regarding the loan fee of 20% applying to FEE-HELP loans for undergraduate study.

What does this mean? that u pay an upfront fee approximating 20% of the amount u wish to borrow?

appreciate the help.

 

[mitsui]

?

I think it means if you borrow 10000 from them, they charge you 20% of that 10grand as a fee.

 

[Calla]

so basically, if one does let fee-help cater to all fees, the only fee i will have to pay during the year is that 20%?

 

[mitsui]

basically yes

I believe they also index the payments so it's in line with the inflation.

 

[hellomike]

You don't pay anything upfront. A 20% loan free will be charged on your annual course fee every year of your course and it isn't counted towards the $80,000 limit you get. $100,000 for Medical and Law (the latter I think).