Who is Eligible for a GradPLUS Loan

For the GradPLUS Loan you must be a:

		Graduate student attending an eligible institution and
		U.S. Citizen, U.S. National or eligible Non-Citizen and
		Must be enrolled at least half-time and meet the school’s standards for academic progress.

Delay Your Monthly Payments for up to FOUR years

GradPLUS Loan

Normally repayment on a PLUS Loan begins within 60 days from the last disbursement of the loan. However, graduate borrowers will be provided an in-school deferment and, upon request, a 6-month forbearance at graduation to align Stafford and PLUS payments.  You may also qualify for extended forbearance. At the end of the forbearance period, we will add your interest owed for the period to your principal. You may choose, instead, our graduated repayment option and reduce your initial payments by up to 40%.

What if I am Concerned About My Eligibility?

If you are concerned about credit, National Education provides online pre-approval services. We work with most guarantors to support the credit approval process that your school uses. For more information call our customer service staff at (800) 353-3357.

How do I apply?
 

Apply for a GradPLUS Loan

As established in federal guidelines, you must complete the Free Application for Federal Student Aid (FAFSA) in order to establish eligibility for a GradPLUS.  The graduate school you will be attending will send you an award letter which details your financial package (grants, work-study, scholarships, loans, etc.)  Be sure to make use of all other forms of aid before borrowing.

Online Process
If your school participates in an online GradPLUS Loan process, it will contact you regarding your responsibilities in applying for a GradPLUS Loan. National Education works with schools in this electronic process to provide the fastest and easiest loan availability possible.  Be sure to select National Education as your lender to take advantage of our low rates, borrower benefits, and services.

The Paper Process

If your  school uses standard processing methods:

How do I know if I have “adverse credit”?

PLUS Loan applicant is considered to have adverse credit if any of the following conditions apply:

		Applicant is 90 days or more delinquent on repayment of any debt.
		Applicant has had any debt discharged in bankruptcy during the 5-year period before date of the credit report.
		Applicant has been the subject of a default determination on any debt, foreclosure, tax lien, repossession, wage garnishment, or write-off of a Title IV student loan debt during the 5-year period before the date of credit report.

What is an Endorser?

An endorser is a cosigner on a denied PLUS loan.
 

Who is National Education?

National Education is an exclusive education lending company with over 19 years of education loan experience.  We value each relationship and build our business one loan at a time. National Education is a name borrowers trust for highly competitive student loan products, real savings, efficient processing, and exceptional personal service.  We offer extensive loan processing options through our network of nationwide guarantors and servicers. National Education's goal is to provide students, parents and schools cost effective education loan products with outstanding service levels; and we do it everyday.

Why choose National Education?
 

		Interest rate savings up to 2.25% on all Stafford, Parent PLUS and GradPLUS Loans
		Life of loan servicing
		Toll-free Customer Service Hotline
		Online application and processing
		Reduce monthly payments up to 40%

Are there other borrowing choices?
 

		Stafford Loans Stafford Loans are low cost educational loans insured by the federal government. They are available to students attending an eligible institution at least half-time.  The loan funds must be used for school costs including tuition, fees, books, supplies, room and board.  Click here for more information.
		National Education’s Premier Alternative Loan The student may qualify for our low cost Alternative Loans.  Click here for more information or call us at (800) 851-4770 to find out more.

Need help?

Our unsurpassed Customer Service staff can answer all your questions and help you resolve any issues. Just call

(800) 353-3357

1. Students must be attending at least half-time.
2. If the borrower does not have financial need for a subsidized Stafford Loan or has reached the aggregate limit in subsidized Stafford Loans, the borrower may receive up to this entire amount in unsubsidized Stafford Loans, based on eligibility.
3. The standard Stafford Loan rate is fixed by law at 6.8%.  Through National Education’s THE WINNING COMBINATION® you can reduce your Stafford rate to as low as 4.55%.
4. The standard PLUS Loan rate is fixed by law at 8.5%.  Through National Education’s THE WINNING COMBINATION® you can reduce your PLUS rate to as low as 6.25%.
5. Your Federal Default fee of 1% may be paid by the Guarantor, please check with your school Financial Aid Office to confirm.
6. Stafford Loan repayment normally begins 6 months after leaving school.
7. Initial principal payments may be reduced or deferred by choosing our graduated repayment option.
8. Normally PLUS repayment begins within 60 days of last disbursement. You may delay your payments up to four years through our forbearance feature. GradPLUS borrowers who remain in-school will be provided an automatic in-school deferment. Once graduated borrower must request a deferment/forbearance to align his/her payment with Stafford.
9. Origination fee of 1.5% is charged by Deparatment of Education on all Stafford Loans through 6/30/08. This will reduce to 1% on 7/1/08.

* Effective 7/1/07

Apply for a GradPLUS Loan
 

The funding of NEW Federal Stafford and PLUS Loans
has temporarily been suspended, effective January 15, 2008.

Please be assured that we will fund all second and subsequent disbursements
for loans first disbursed on or before January 15, 2008 as scheduled.

Need a loan? Click here to apply for our competitive, NO FEE Premier Alternative Loan.

We reserve the right to modify or discontinue benefit programs at any time without notice. Any termination or modification of the program will not affect the terms of loans previously made. Specific terms and conditions may apply, please call us at 1-800-353-3357 if you have any questions.

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