EdAccess Private Student Loans

Designed to meet your educational needs. Competitive interest rates get even lower with good grades. It can be used to pay for qualified education expenses like tuition, room & board, books, computer, living and travel expenses (i.e. study abroad) or past due tuition bills.  Full interest and principal payments are deferred until six months after graduation and the repayment period is up to ten years. Borrow as little as $2,500 or as much as $30,000 per academic year.

Student benefits:

• Variable interest loan based upon LIBOR index plus a margin. Recent rates for approved loans range from 6%-9%APR*
• Interest paid on a loan may be tax deductable (please consult your tax advisor)
• Zero fees or low fees (2%-4%) based on repayment option selected. Borrower has the option to choose between making interest payment towards the loan while in school
• No prepayment penalty and 30-day loan cancellation policy
• Fast pre-approval once the application is received
• Credit+Academic Based Underwriting- We use the FACS Grade, which takes into account the credit history of the borrower/cosigner as well as the academic progress of the student
• 1% interest rate reduction-Once 10% of the loan was repaid, you may receive interest rate reduction
• Cosigner release after 24 payments-The cosigner may be released from the loan once the loan is in repayment and the borrower has made 24 on time payments. The borrower must meet the minimum credit requirements.