My Sallie Mae's interest rate is 10.25% with Prime + 2.00%. The fee at repayment is 3.00%. What is prime and what is repayment fee? It says that I don't have to pay interest while in school, but I think it is in my best interest to pay for it while in school. Do I have to pay a 3.00% when I make a monthly payment while in school or does it only apply to when I graduate? Is it 3.00% of the total amount? 3.00% on top of 10.25%? I tried to read it online, but I still don't understand anything. I just want to make sure cause I don't want to take out $20,000 and then end up with $200,000.