Patients can lower their cost of borrowing by setting up automatic payments. This incentive encourages consistent repayment while providing a direct financial benefit to the borrower.
The Benefit
APR Discount: Enrolling in auto-pay provides a 0.25% reduction in the patient’s Annual Percentage Rate (APR).
How It Works
To receive this discount, the patient must set up recurring payments through their borrower portal. The reduction is typically applied to the interest rate for as long as the auto-pay enrollment remains active on the account.
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