Doral Direct Student Loans
When scholarships and federal loans are not enough, the Doral Direct Student Loan program is here to bridge the gap of the cost of your education. Doral offers many private loan types to suit your educational needs.
This is what sets Doral Direct Student Loans apart from the rest of the pack:
 |
Fast online approvals |
|
Low interest rates and fees |
|
High approval rating |
|
High annual maximums |
|
A variety of repayment options, immediate, interest only, or
wait until you leave college |
|
No application fee or out of pocket expenses |
|
The loan can be used to cover any education related expense
including |
| |
tuition, room and board, books, transportation, housing, and supplies. |
|
24/7 online status check of loan application |
 |
Student Loans
|
 |
|
|
|
 |
|
Loan Types
| Doral Direct Student Loans offers various private loans to meet an individual's course of study. Below is a list of these loan types: |
|
Undergraduate
|
|
Graduate |
|
Business (MBA) |
|
Engineering |
|
Law |
|
Bar Exam (Ancillary) |
|
Medical |
|
Medical Residency and Relocation (Ancillary) |
|
Dental |
|
Dental Residency and Relocation (Ancillary) |
|
Dental Board Exam (Ancillary) |
|
Study Abroad |
|
Qualifications
| To qualify for this loan: |
|
Student must be a U.S. Citizen; or
|
| |
|
Permanent resident with a valid permanent-resident card; or
|
|
An international student, applying with a U.S. citizen or permanent resident Co-Borrower; or |
|
An international student with a U.S. citizen or permanent resident applying on your behalf. |
|
|
At least 18 years old, or the age of majority in your state; |
|
Enrolled at least half time at an eligible institution; |
|
Meet criteria for creditworthiness. |
|
Loan Limits
| |
|
|
Minimum: $1,500
|
|
Maximum: $50,000 or Cost-of-Attendance
$70,000 or Cost-of-Attendance
(Law, Medical, Osteopathic, Dental, MBA Loans only) |
|
Ancillary Maximum: $15,000 (One-Time Only) |
|
Interest Rates
| |
|
In school rates: as low as |
| |
|
LIBOR + 3.75% (Immediate Interest and Principal Repayment)
|
|
LIBOR + 3.75% (Immediate Interest and Deferred Principal Repayment) |
|
LIBOR + 4.15% (Both Deferred Interest and Principal Repayment) |
|
| |
|
|
At Repayment rates as low as |
| |
|
LIBOR + 4.30% (Immediate Interest and Principal Repayment)
|
|
LIBOR + 4.40% (Immediate Interest and Deferred Principal Repayment) |
|
LIBOR + 4.50% (Both Deferred Interest and Principal Repayment) |
| |
|
|
Interest Capitalization
| Full Deferral of Payments While in School: Interest isaccrued and Added quarterly to the Principal Balance; as well as At Start of Repayment |
|
Loan Fees
| |
|
At Loan Origination: As Low As 0%
|
|
After Final Disbursement: 0%
|
|
Upon Graduate: 0%
|
|
Prior to or at Repayment: 0% |
|
Repayment
| |
|
Begins (grace period): Maximum 6 months
|
|
Term: 15 years after the end of deferment and grace period; |
| |
20 years for Medical, Osteopathic and Dental Loans |
|
Deferments / Forbearance: Yes |
|
Minimum Payment: $50 |
|
Borrower Benefits: .25% interest rate reduction for 48 consecutive on-time payments or for ACH |
|
APR/Repayment
If you borrowed $10,000 in a single installment, the 3 Month LIBOR remained constant at 3.42% and you had a 24-month combined in-school and 6 month grace period with a 180-month repayment period, your possible APR and repayment schedules are shown to the right. Your annual percentage rate may increase or decrease after consummation.
Loans funded by Doral Bank NY FSB, an Equal Opportunity Lender. |
| |
Repayment Option: |
Origination Fee |
APR |
In School & Grace Period |
Repayment Period |
| |
|
|
|
|
| Immediate Interest & Principal Repayment: |
0% |
6.24% |
30 Payments of $84.39 |
150 Payments of $86.13 |
| |
|
|
|
|
| Immediate Interest & Deferred Principal Repayment: |
0% |
6.26% |
30 Payments of $50.00 |
180 Payments of $86.43 |
| |
|
|
|
|
| Both Deferred Interest & Principal Repayment: |
0% |
6.60% |
30 Payments of $0.00 |
180 Payments of $103.40 |
|
|
|
|
|
|
Doral Direct is here to make your student loan application experience a fast and convenient one.
|
|
 |
