PNC Bank, in conjunction with American Education Services (AES), makes the Federal Stafford Loan more affordable than ever for residents of Delaware or West Virginia, and out-of-state students attending schools located in these states.
Benefits
For loans disbursed between 3/1/07 and 6/30/08
- Zero fees - no origination or federal default fees
- A 0.25% interest rate reduction for automatic direct debit of
payment from any bank account*
- Combined or separate billing
for multiple loans
- Single point of customer service
for the life of the loan
|
For loans with first disbursement on or after 7/1/08
- No origination fee
- A 1% default fee will be charged
- A 0.30% interest rate reduction for automatic direct debit
of payment from any bank account*
- Combined or separate billing
for multiple loans
- Single point of customer service
for the life of the loan
|
* To maintain the interest rate reduction benefit, all payments must be directly debited from a bank account. If automatic payment is stopped, the rate reduction benefit is lost and the rate will revert to the government-set rate for all Federal Stafford Loans.
How to
Apply
Students must complete a Free
Application for Federal Student
Aid (FAFSA) to determine
aid eligibility, and a Federal
Stafford Loan Master Promissory
Note (MPN).
Borrower
Eligibility
- Delaware or West Virginia residents attending any
school approved by the U.S. Department of Education,
regardless of the location of the school
- Out-of-state residents attending any U.S. Department
of Education-approved school located in Delaware or West Virginia
- No income requirement
- Must meet the standard Stafford
eligibility requirements
- Be a U.S. citizen or eligible
non-citizen
- Be accepted for enrollment
in a participating school; or
if enrolled, be making satisfactory
progress
- Be classified as at least a
half-time student and working
toward a degree or certificate
- Not be in default on an education
loan or owe any education grant
refund
- Be registered with the Selective
Service, if required
- Have financial need in order
to receive a Federal Stafford
Loan
For more information,
contact our customer service
center to speak with an education
loan specialist 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. |
