In Arkansas and other areas of the country, a Stafford loan is a government subisidized loan for graduate and undergraduate students. The main beneft of getting a Stafford loan is low fixed interest rates. For example, graduate students can take advantage of interest rates as low as 6.8 percent. The interest rates for undergraduate students range between 3.4 and 5.6 percent. Unlike non federal student loans in Arkansas, a Stafford loan doesn't require application fees, collateral, or credit checks. Contact our associates today to learn more.
In order to be considered for student financial aid in Arkansas, you will need to submit a FAFSA (Free Application for Federal Student Aid). Once you submit the FAFSA, you will be considered for grants, work study programs, and federal student loans. The Department of Education determines the eligibility guidelines for Arkansas student loans. They'll consider several factors such as net assets, income number of family members, and family expenses when identifying your financial need. Contact our pleasant representatives for more information.
Because Arkansas private student loans have higher rates of interest than other kinds of loans, students should seriously consider more affordable student loan options. Other low-cost student loan options include Stafford loans, Perkins student loans, Parent PLUS loans and Grad PLUS loans. As a potential college student, you should explore financial aid options in Arkansas that'll save you money in the future. Call our associates for more information about student loans in Arkansas.
There are numerous benefits of getting private student loans to finance your education. For example, many private student loan programs in Arkansas let you to defer payments while you are still in college. Other private student loan programs require that you start making payments on the loan right away. With a few private student loan programs, you may make interest-only payments while you are still in school. That way, you can pay off the interest on your loan as soon as possible, and save money on your Arkansas student loans in the long run.
In today's economy, many workers have experienced financial hardship and job loss in Arkansas. If you've lost your job, and have student loans, many loan programs include deferment and forebearance benefits, allowing you to defer making payments for a pre-determined period of time. While some lenders allow you to defer your education loan payments, others don't, and still other lenders handle forbearance issues on a case by case basis. Contact our associates today to find college loans in Arkansas that'll meet your needs.