Plus Loans

Similar to the PLUS student loan, the Graduate Plus program is a student loan offering graduates the direct benefit instead. With several repayment options and consolidation eligibility too, this federal student loan is available to graduate students no matter what your income level may be and it completely pays for all your graduate school needs, including tuition, books, and more. Student Aid Centers make the Easy Graduate Plus loan simple to apply and online approvals status quick and easy. Rates on the Graduate Plus student Loan are available as low as 6.50% after generous rebates and easy rate reduction plans. GradPLUS features:

GRADPLUS LOAN BENEFITS:

No collateral required for this student loan
Immediate 1% interest rate reduction for all PLUS borrowers maintained throughout the life of the loan with continuous on-time payment.
Additional 0.25% interest rate reduction when payments are made via automatic debit.
0% default fees with guarantors nationwide.
Full deferment of payments while in school.
Life-of-loan servicing.
24-hour online account access
Fixed Interest rate of 8.5% which is lower than many alternative loan products.
The interest rate is fixed at 7.5% and can be as low as 7.25%.
Borrow up to the cost of education minus other financial aid received. Many alternative loans have annual and aggregate loan limits.
Up to 25 years to repay based on flexible repayment plans and total amount borrowed.
Less than perfect credit ratings not an issue. There are credit requirements, but debt-to-income or credit scoring are not used. If you are denied based on adverse credit, you may obtain a credit-worthy endorser who is secondarily responsible for the loan.
Cover your cost of attending school (less any financial aid)
Money saving rate reduction programs available through the Student Aid Centers
No need to risk your home or personal assets
Early payment with no fees lets you pay off your student loan without a penalty
Payment suspensions of your student loan available
A cap on this student loan's interest rates as mandated by the federal government
Mid-year GradPLUS loans available
Tax deductions may be available for this student loan

Have Questions? Call One of Our Educated Student Loan Counselors at 1-1-888-947-2356 now!

If you find you need extra funds for school, you may still apply for a GradPLUS loan mid-school year. The deadlines vary from school to school. In most cases, the deadline is just prior to the end of the school year. You should contact your school's financial aid department to learn the exact deadline.

Have Questions? Call One of Our Educated Student Loan Counselors at 1-1-888-947-2356 now!

GradPLUS loan rates disbursed after July 1, 2007 are fixed at 8.5%. GradPLUS loan rates disbursed before July 1, 2007 are variable (capped at 9%) and adjusted annually. The current adjustable rate through June 30, 2008 is 7.94%. Rates for this student loan will never exceed 9%, by federal mandate.

Each time money is disbursed, a 3% origination fee of the principal is deducted. For example, if the school certifies $15,000 for a school year, $450 is added to your total. If two disbursements for this student loan program are made during the school year, the origination fee amount withdrawn is divided in half ($225 is taken out each of the two times a disbursement is made). This fee is given to federal government to offset the cost of the PLUS loan program.

As of 2001, you could be eligible to deduct up to $2,500 in interest from a GradPLUS loan. Section 221 of the Internal Revenue Code allows some student loan borrowers to deduct a portion of their interest costs for a given year. This deduction may be contingent on the loan's disbursement date and your income. Please talk with your tax advisor for more details.

A GradPLUS loan is a supplemental form of student financial aid. You must complete a Free Application for Federal Student Aid (FAFSA). You will then receive an award letter from the school calculating your financial aid subtracted from the cost of attendance. The amount the school certifies for your PLUS loan is equal to the total of your Expected Family Contribution (EFC), the unmet need and the PLUS loan's 3% origination fee. Contact your school's financial aid department if you have any extenuating circumstances (medical expenses for your child or recent unemployment) that may impact the cost of attendance or expected family contribution.

For example, if your school certifies $24,076.25 out of a requested $30,000 but you have not received your award letter yet. You may still apply for a PLUS Loan even without your award letter. Just make sure you request up to the cost of attendance plus the 3% origination fee so you are guaranteed to receive the full cost and won't have to apply for a mid-year loan.

Cost of Attendance (COA)	$30,000
Expected Family Contribution (EFC)	- $10,000
Financial Aid #1	- $2,625
Financial Aid #2	- $4,000
Unmet Need	$13,375
EFC + Unmet Need	$23,375
3% Origination Fee	- $701.25
PLUS Amount to Request	$24,076.25

Have Questions? Call One of Our Educated Student Loan Counselors at 1-1-888-947-2356 now!

Student Aid Centers of America offer PLUS borrowers three ways to reduce their interest rate and get reimbursed for fees paid on the loan.

Reduce your rate by 0.25% -- and enjoy convenience and peace of mind - when your payments are automatically deducted from your bank account.
Save money by getting the 1% guaranty fee waived
Be rewarded for on-time, consistent payments! Make 36 consecutive, on-time payments, and we'll give you back 3% of your remaining principal. (If you miss a payment, are late with a payment or make an insufficient payment, this credit-back option is not available and may be reversed if already paid out.

Student Aid Center 's lenders are committed to offering programs to help you manage your student loan debt. Our programs to reduce interest rates and fees vary so check back with us frequently for the most up-to-date information.

Have Questions? Call One of Our Educated Student Loan Counselors at 1-1-888-947-2356 now!