For variable rate loans issued on the One Month LIBOR rate,
the LIBOR is 2.40% effective July 1, 2019.
For variable rate loans issued on the Three Month LIBOR
rate, the LIBOR is 2.53% effective July 1, 2019 - September 30, 2019.
You may identify which LIBOR is applicable to your loan on
the Final Disclosure issued by Laurel Road.
With any change to the LIBOR rate, variable rate loans will
re-amortize and a repayment schedule will be provided that will include your
new monthly payment amount, interest rate (margin plus LIBOR), and the
effective date of your new monthly payment amount.
Note: The repayment
schedule interest rate does not reflect the Auto Pay discount as payments are
not calculated with the discounted interest rate.