Note: Most Students Need a Co-Signer to be Approved.
And a co-signer with excellent credit, a parent or other creditworthy adult, could help you get a better rate.
What to Expect:
You will first determine your loan amount eligibility. You can get up to $45,000 1 to pay for college. Other benefits:
- make no payments until after graduation 2
- pay zero origination fees 3
- earn a $300 cash rebate upon graduation 4
- get rate reduction benefits 5
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1 Undergraduate and graduate borrowers may borrow annually up to the lesser of the cost of attendance or $45,000.
2 Undergraduates and graduates may defer repayment until six months after graduation or ceasing to be enrolled at least half-time. Immediate and interest only repayment options are also available. The Repayment Period is up to 25 years.
3 $300 principal reduction is applied to unpaid principal balance when proof of graduation is received. If outstanding balance is less than $300, balance will be reduced to $0.
4 A repayment finance charge may apply based on credit history.
5 The 0.25% rate reduction is available to borrowers who arrange to automatically deduct monthly payments from their bank account. The interest rate repayment will begin when automatic principal and interest loan payment start, and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to the contract rate if automatic payments are cancelled, rejected, or returned for any reason. This benefit applies to all loans disbursed on or after 10/13/2006.
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