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USEFC : Federal Plus Loan
- An immediate reduced fixed interest rate of 7.9%
- 3% of your original loan amount credit against the principal*
- .25% interest rate reduction at repayment for auto debit participants
- No loan limits borrow up to the full cost of education annually
- Approval is not based on income, financial need or a debt-to-income ratio
- Delay your PLUS loan payments while your student is enrolled at least half-time, for up to four academic years.***
- Fast online application and loan processing
- Life of loan servicing at the same servicer
- Flexible repayment options
- Electronic Account Access
- Interest may be tax deductible; consult with your tax advisor
- Lender: USEFC
- Lender Code: 833770
- UPROMISE a free discount program that helps you pay off your loans**
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** UPROMISE is offered only in conjuction with American Education Services and is a free discount program that helps you pay off your loans. Register now at www.upromise.com/AES. (Participating Guarantors Only).
* The 3% PLUS loan rebate will be charged to you in the event you obtain FFELP Consolidation Loan.
*** When you receive your repayment disclosure. If you feel that immediate repayment may cause temporary harship, you may call USEFG and apply for a temporary harship forbearance. Forbearance can be granted for no more than twelve months at a time. Therefore, if you wish to extend the forberance, you must submit a new request each year for a maximum of four academic years.
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Federal PLUS Loan Parents of Undergraduates
With Parent PLUS, parents can borrow up to the entire cost of education for their dependent children minus other aid awarded. Choose Wachovia for these great advantages:
Program Benefits
- Save up to 7.25% of the original loan amount with Triple Payback® rebates*
- Fixed interest rate of 8.5%
- Covers up to 100% of the education costs less other aid received
- Make no payments for up to four years with available forbearance
- Apply online for faster funds
- Apply online application for faster funds
<For more details, click here>
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IEFC - Citizens Bank : Federal Plus Loan
- For parents or legal guardians of dependent undergraduate students and students attending graduate school.
- No debt-to-income ratio guidelines or employment verification requirements.
- 3% origination fee.
- 1% default (guarantee) fee.
- 7.5% fixed interest rate, set by the federal government is 8.5% effective July 1, 2006.
- Effective July 1, 2006, the fixed rate for all PLUS loans as set by the federal government, is 8.50%.
- 1.00% interest rate reduction immediately at first disbursement.
- In school PLUS Loan fixed rate is 7.5%
- PLUS loan borrowers maybe eligible to receive a discount rate of 7.25%
- 0.25% interest rate reduction for automatic payment deductions.
- Effective July 1, 2006-June 30, 2007 the variable rates for existing loans (taken prior to July 1, 2006) are 7.94%.
- Maximum amount borrowed cannot exceed Cost of Education.
- Borrowers may be eligible for an extended repayment term of up to 25 years.
- Lender: IEFC - Citizen's Bank
- Lender Code: 826861
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