Benefits
For loans disbursed between 3/1/07 and 6/30/08
- Zero fees - no origination or federal default fee
- A 0.25% interest rate reduction for automatic direct debit
of payment from any bank account*
|
For loans with first disbursement on or after 7/1/08
- No origination fee
- No default fee
- A 0.30% interest rate reduction for automatic direct debit
of payment from any bank account*
|
* 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
- Be a U.S. citizen or eligible
non-citizen attending any
school approved by the U.S.
Department of Education located in either Texas or Louisiana, or that
uses Brazos Higher Education
Services Corporation, Inc.
as their loan servicing agent
- No income requirement
- Must meet the standard Stafford
eligibility requirements
- 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. |
