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InterestRate

Payitoff API: InterestRate Schema

An InterestRate object describes both what has been retrieved from Servicer Aggregation, as well as any other pertinent information we can provide based on our knowledge of federal repayment programs.

Schema Definition

Property

Type

Format

Description

effective

string

decimal

The interest rate as provided by a loan's ServicerServicer - A financial institution to whom a Borrower pays their monthly student loan payment(s)..

NOTE: As of v1.0.1, all float values are returned as decimal strings with 2-digit precision.

original

string

decimal

The interest rate that should apply to a loan based on its federal Repayment PlanRepayment Plan - The payment schedule a given loan is following. Each repayment plan has its own eligibility requirements and rules for determining repayment term, payment amounts, forgiven amounts, and tax liability..

NOTE: As of v1.0.1, all float values are returned as decimal strings with 2-digit precision.

Example

{
  "effective": "6.75",
  "original": "6.75"
}

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