Common use of PAPERWORK REDUCTION NOTICE Clause in Contracts

PAPERWORK REDUCTION NOTICE. Xxxxxxxx, retain this copy for your records Your interest rate will be 6.70% After the starting rate is set, your rate will remain the same over the life of the loan The interest rate is set based on a rate floor of not less than the weighted average true interest cost of the Alaska Student Loan Corporation’s (ASLC) outstanding fixed-rate debt obligation plus the Alaska Commission on Postsecondary Education’s (ACPE) and ASLC’s most recent five-year average cost of administering the state education loan program.

PAPERWORK REDUCTION NOTICE. Xxxxxxxx, retain this copy for your records Your interest rate will be 6.706.25% After the starting rate is set, your rate will remain the same over the life of the loan The interest rate is set based on a rate floor of not less than the weighted average true interest cost of the Alaska Student Loan Corporation’s (ASLC) outstanding fixed-rate debt obligation plus the Alaska Commission on Postsecondary Education’s (ACPE) and ASLC’s most recent five-year average cost of administering the state education loan program.