VSAC Borrower Benefits for Parents
2008-2009 Academic Year*Easy to Get; Easy to Keep
Borrow a VSAC Parent PLUS loan and automatically qualify for VSAC's great borrower benefits.
REDUCED FEES*
0% Default Fee
VSAC Parent PLUS loans, approved on or after 5/19/08, are not charged a federal default fee; VSAC pays the fee on your behalf!
INTEREST RATE REDUCTION*
VSAC Parent PLUS loans automatically receive a 1% interest rate reduction upon entering repayment.
VSAC Makes It Easy…- Keep the lower interest rate as long as you make your payments within 21 days of your due date.
- If you make a late payment; get the lower interest rate back by making 12 consecutive on-time payments.
- You won’t lose your interest rate reduction during periods of deferment and forbearance.
- Make your payments online; VSAC provides an online payment service which allows you to avoid postal delays.
SAVINGS**
Check out how VSAC's borrower benefits reduce your overall cost of borrowing.
| Loan Type | Loan Amount | Total Cost without VSAC Benefits1 |
Total Cost with VSAC Benefits1 |
Total Savings with VSAC Benefits1 |
|---|---|---|---|---|
| Parent PLUS | $15,000 | $22,756 | $21,237 | $1,518 |
| $35,000 | $53,165 | $49,605 | $3,561 | |
| $75,000 | $113,916 | $106,288 | $7,628 |
LEARN MORE
*Borrower benefits described are for loans with a first disbursement on or after 7/1/08, unless otherwise noted. VSAC evaluates borrower benefits each academic year and reserves the right to modify, terminate, or discontinue them at any time, at its sole discretion.
**Estimated savings based on loan type, loan terms as of 7/01/08, and 10-year repayment period.
