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Education Loans
Perfect for:
Families planning for college expenses.
We have loans to meet your needs including:
Subsidized Federal Stafford Loans
Based on financial need
Eligible Borrowers:
- Dependent undergraduates
- Independent undergraduates
- Graduate or Professional student
Loan Maximums:
- Year 1: $2,625
- Year 2: $3,500
- Year 3-5: $5,500
- Grad or Prof: $8,500
- Total maximum for an Undergraduate Degree: $23,000
- Total maximum for a Graduate Degree: $65,500
Unsubsidized Federal Stafford Loans
Not based on financial need
Eligible Borrowers:
- Dependent undergraduate student
Loan Maximums:
- Year 1: $2,625 minus any subsidized Stafford awarded
- Year 2: $3,500 minus any subsidized Stafford awarded
- Year 3-5: $5,500 minus any subsidized Stafford awarded
- Total maximum for an Undergraduate: $23,000 minus subsidized Stafford
Federal Unsubsidized Stafford for Independent Student
Not based on need
Eligible Borrowers:
- Independent undergraduate
- Graduate or professional student
Loan Maximums:
- Year 1: $6,625 minus subsidized Stafford awarded
- Year 2: $7,500 minus subsidized Stafford awarded
- Year 3: $10,500 minus subsidized Stafford awarded
- Graduate: $18,500 minus subsidized Stafford awarded
- Total maximum for Undergraduate: $46,000 minus subsidized Stafford previously borrowed.
- Total maximum for Graduate: $138,000 minus subsidized Stafford previously borrowed.
Pricing & Repayment Fees:
3% origination fee (from loan proceeds)
Disbursement:
Loan proceeds are sent to the school, generally in at least two disbursements, co-payable to the parent and school.
Repayment:
Borrower has up to 10 years to repay with a $50/month minimum payment. Repayment begins six months after the student drops below half time study or leaves school. May prepay any part of the loan without penalty. With an unsubsidized loan the interest is payable from the date of disbursement and if deferred, will be capitalized to the loan balance after the in-school, grace or deferment period ends.
How to apply:
Have a question? Email Anita.
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