Military APR (MAPR)
An all-in way of measuring APR — interest plus most fees — used by 36% rate caps.
What "military apr (mapr)" means
The Military Annual Percentage Rate (MAPR) is a method of calculating a loan's cost that folds in not just interest but most fees, add-on products and charges. It was created for the Military Lending Act's 36% cap and is now used by state laws like Illinois's PLPA.
It matters because a lender can quote a low "interest rate" while fees push the true MAPR far higher. Rate caps written in MAPR terms close that loophole — which is exactly why high-cost lenders dislike them.