The federal government offers three different kinds of federal student loans for Pennsylvania students. They are the Parent PLUS loan, Stafford loan and private student loans. Stafford loans can be taken out under the student's name. This kind of loan does not require collateral or credit checks. The second loan (Federal Parent PLUS Loan) is geared toward parents of undergraduate students. With a Pennsylvania college student loan, parents can borrow up to 100% of their child's tuition. Third, private student loans are credit-based, unsecured loans available to Pennsylvania students.
A Stafford loan is a subsidized federal loan given to undergraduate students and graduate students in all American states including Pennsylvania. Stafford loans are very affordable because they have low interest levels that are fixed. For example, graduate students can secure interest rates as low as 6.8 percent. Undergraduate students can often secure interest rates between 3.4 and 5.6 percent. Unlike non federal student loans in Pennsylvania, a Stafford loan does not require credit checks, collateral or application fees. Contact our representatives today to find out more.
Since private student loans in Pennsylvania tend to be more expensive than other types of student loans, you should think about other options for student financial aid. More affordable education loan options include Stafford loans, Perkins loans, Grad PLUS loans and Parent PLUS loans. As a college student, it is smart to explore financial aid resources in Pennsylvania that are affordable and have low interest rates. Contact our representatives to learn more about student loans in Pennsylvania.
In today's economy, many workers have experienced financial hardship and job loss in Pennsylvania. If you are out work, and have student loans, many student loan programs include forbearance and deferment benefits, enabling you to postpone payments for a period of time that is defined by the lender. While some lenders will let you defer your loan payments, others will not, and still others handle forbearance issues on an individual basis. Call our reps today for further information on the best student loans available to students in Pennsylvania.
Federal student loans are college loans issued to students in Pennsylvania and other states by the federal government that come with low interest levels and don't have to be paid back until you have received your degree. Once you submit an online FAFSA, the Department of Education generates a student aid report that includes the types of loans for which you qualify in Pennsylvania. You are required to have a certain level of financial need to be qualified to receive federal loans The government examines the assets and income of you and your parents to determine your financial need.