Borrower
Benefits
For loans disbursed between 3/1/07 and 6/30/08
- A 0.75% interest rate reduction will be applied at disbursement*
- A 0.25% interest rate reduction for automatic payment deduction*
- A delayed repayment option is available for up to four academic years
|
For loans with first disbursement on or after 7/1/08
- A 0.60% interest rate reduction will be applied at repayment*
- A 0.30% interest rate reduction for automatic payment deduction*
- A delayed repayment option is available for up to four academic years
|
* The interest rate reduction benefit will be lost if a loan payment is received more than 15 days after the scheduled due date. The interest rate reduction for automatic payment deduction will be lost if automatic payment deduction is discontinued.
How
to Apply
Students must complete a Free
Application for Federal Student
Aid (FAFSA) to determine
aid eligibility, and parents
must complete a Federal
PLUS Loan Master Promissory
Note (MPN).
Borrower
Eligibility
- Be a U.S. citizen or eligible
non-citizen with a dependent
undergraduate student attending
any school approved by the
U.S. Department of Education
that uses Brazos Higher Education
Service Corporation, Inc.
as their loan servicing agent
- No income requirement
- Must meet the standard PLUS
eligibility requirements
- Dependent undergraduate
student must be accepted for
enrollment in a participating
school; or if enrolled, be
making satisfactory progress
- Dependent undergraduate
student must be classified
as at least a half-time student
and working toward a degree
or certificate
- Borrower or dependent
undergraduate student must
not be in default on an education
loan or owe any education
grant refund
For more information,
contact our customer service
center to speak with one of
our education loan specialists
at 800-762-1001, Monday through Friday from 8am to 6pm Eastern
time.
PNC Bank reserves the right to modify offered interest rates, fees and borrower benefits at any time without notice. |
