Federal Stafford Loan Program
Benefits
For loans disbursed through 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 billing
for multiple loans
- Single point of customer service
for the life of the loan
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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*
- Combined 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.
** The 1% federal default fee will be waived if the participating guarantee agency selected by the borrower will pay the fee.
PNC Bank reserves the right to modify offered interest rates, fees and borrower benefits at any time without notice.
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