Loan Incentives

Incentives are sometimes offered to students who repay their loans on time. For information on repayment incentives and their availability contact the Direct Loan Servicing Center for Direct Loans. If you have a FFEL, you must contact your lender for particular information about the types of incentive plans in place.

To obtain the most favorable terms, consider loan consolidation - you can get discounts including:

• Reduce your monthly payment by as much as 53% and simplify your monthly bill-paying paperwork with one payment a month.
• No credit check, no co-signers needed, and no fees!

How PLUS Loan consolidation works is explained in detail here.

Parent PLUS Loan Incentives

• Automatic Repayment - many lenders will offer a 0.25% interest rate reduction if you set up automatic payments to your account each month via EFT.
• Tax Deductions - The interest on your Parent Plus loan may be tax deductible.
• Online Account Management - Access and manage your loan account through a secure website. You can update contact information, and make payments online.
• No Minimum Loan Amount - Parents have the flexibility to borrow only what they need to cover their child's education costs.

Check with your lender to find out specific incentives they offer. If you are not sure who your lender is, then please use our student loan locator. Also, please visit Edvisors.com Education Directory for more information.