Reasonable Interest Rate definition
Reasonable Interest Rate means an interest rate no higher than the Wall Street Journal prime rate effective on July 1 for the fiscal year beginning July 1 of each year. If an outstanding loan made under these regulations is subject to the Reasonable Interest Rate, the Reasonable Interest Rate for the current fiscal year shall apply to such a loan during that fiscal year without regard to the interest rate at the time of the loan's origination or the interest rate at the time of the student's default.
Reasonable Interest Rate means an interest rate no higher than the Wall Street