Peg it to the prime rate and let them float if you want to take the risk, or go with the higher fixed and be sure.
Use a carrot and stick approach as well for getting them paid back. Hey, you can’t find work and haven’t made your payment? Money too tight right now to even get my? 20 hours of community service or some such will allow you to miss that months payment without interest or penalties.
“20 hours of community service or some such will allow you to miss that months payment without interest or penalties.”
Aw, c’mon Abathar, that makes too much sense to expect the government to do it.