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Parents: Borrow your PLUS loans through AAA and save!
The AAA Student Lending Program is pleased to offer parents and graduate students PLUS loans with fixed rates up to 1.25% lower than the Federally established rate. According to the National Postsecondary Student Aid Study (NPSAS), PLUS loan borrowers average a cumulative debt of $16,218. Based on that amount, members who borrow through the AAA Student Lending Program can save up to $1,829 in interest charges over a 10-year repayment term.
The Student Lending Program’s discounted rate includes a 1% interest rate reduction for members who maintain on-time payments and an additional 0.25% reduction for those who enroll in the automatic electronic payments program. Interest-only payments are available for the first two years.
Furthermore, AAA offers members the opportunity to get pre-approved for a PLUS loan up to 180 days before funds are due to the school. This allows parents and graduate students to know early on if a PLUS loan is an option for them. Pre-approvals are instant and can be conducted over the phone or on the web. To apply, click on Student Lending or call 866-268-9419 toll-free,
AAA Student Lending Program
AAA is pleased to offer financing that will help ease the burden many families face in funding their children’s college education. The AAA Student Lending program is now available to all families that qualify and is designed to fund the cost of education while providing lower rates and reduced fees for members. Through a partnership with Nelnet, a national servicer and originator of loans, we are now able to offer our members significant savings.
The program includes three types of loans to help families meet individual education financing needs. Students may choose the Federal Stafford Loan, which offers borrower savings for timely payments. The Parent Loan for Undergraduate Students (PLUS) allows parents of dependent children to borrow up to the cost of education less any other financial aid at interest rates up to 1.25% below the Federal rate for AAA members. AAA also offers a Federal Consolidation loan that affords borrowers the opportunity to combine all of their Federal loans into one loan for a single monthly payment. The Federal Consolidation loan allows borrowers to lock in low interest rates for the life of the loan, and lower their monthly payments up to 53% by extending the repayment term.
AAA Student Loans offer flexible repayment options specific to each loan product, including deferment until graduation, interest only payments while in school, or extended repayment terms. Forbearance options are also available.
We know that education is expensive. Tuition can range from $50,000 for four years at a state institution to over $100,000 for a private institution. That is why AAA is proud to provide members financing options to help meet the cost of education and their educational goals.
For more information on Student Loan Consolidation and other Student Lending options now open to AAA members,
click here or call 1-866-268-9419.
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