VSAC Borrower Benefits for Consolidation Borrowers
For Consolidation Applications Received 7/1/05 Through 6/30/08.
Make 36 consecutive on-time payments and automatically qualify for a 1% interest rate reduction.*
TERMS
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Your Consolidation loan must be in active repayment for 36 months.
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Your loan must remain current at all times; if you become 15 days or more past due, before or after making 36 on-time, consecutive payments, the benefit is terminated and cannot be reinstated.
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Entering a period of deferment or forbearance doesn’t negatively affect your eligibility; your on-time counter is temporarily suspended (not reset to zero) and resumes once the deferment/forbearance has ended.
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Your Consolidation application must be received during the period of 7/1/05 to 6/30/08.
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This particular benefit is not available to students/graduates of most law and medical schools.
Medical school students/graduates – Check out your specific benefits.
Law school students/graduates – Check out your specific benefits.
LEARN MORE
* VSAC evaluates borrower benefits each academic year and reserves the right to modify, terminate, or discontinue them at any time, at its sole discretion.
