SMS asked:


I’m trying to find a small loan to cover a $3000 gap in my financial aid. One credit agreement does not give me an interest rate but says “defferal period margin: 4.5%.” Does this mean that my interest rate is 4.5% added to the prime rate?

BTW my dad has agreed to co-sign so that I can get a better interest rate but I would still like to know!
Thanks Sandi. Yes, I have exhausted all possible federal loans, even the unsubsidized one. My dad did offer to apply by himself but I’m not sure if that is something that I am comfortable with. He is a very trustworthy person by I like to handle my own financial matters most of the time.