low interest rates
The Federal Stafford and PLUS loan programs provide low-interest loans for students and parents. VSAC further reduces the cost of borrowing with our borrower benefits.
2007/2008 Academic Year*
| Loan Type | Federal Interest Rate |
|---|---|
| Subsidized & Unsubsidized Stafford for undergraduates and graduate/ professionals |
6.8% |
| Parent PLUS for parents of dependent undergraduates |
8.5% |
| Grad PLUS for graduate/professionals |
8.5% |
VSAC Borrower Benefits for the 2007/2008 Academic Year:*
- No-fee Stafford loans
- Annual interest rebates on your Stafford and PLUS loans
2008/2009 Academic Year**
| Loan Type | Federal Interest Rate |
VSAC’s Interest Rate ** |
|---|---|---|
| Subsidized Stafford for undergraduates |
6.0% | 5.0% |
| Unsubsidized Stafford for undergraduates |
6.8% | 5.8% |
| Subsidized & Unsubsidized Stafford for graduate/ professionals |
6.8% | 5.8% |
| Parent PLUS for parents of dependent undergraduates |
8.5% | 7.5% |
| Grad PLUS for graduate/professionals |
8.5% | 7.5% |
VSAC Borrower Benefits for the 2008/2009 Academic Year:**
- No-fee Stafford loans
- Reduced federal fees on Parent PLUS and Grad PLUS loans
- Automatic 1% interest rate reduction on Stafford and PLUS loans when your loan enters repayment; keep the lower interest rate as long as you make on-time payments.
*Interest rates and borrower benefits for the 2007/2008 academic year are effective for loans with a first disbursement before 7/1/08. VSAC evaluates borrower benefits each academic year and reserves the right to modify, terminate, or discontinue them at any time, at its sole discretion. Loans 180 or more days past due are not eligible for the annual rebate benefit.
**Interest rates and borrower benefits for the 2008/2009 academic year are effective for loans disbursed on or after 7/1/08. The quoted interest rate is available upon entering repayment and as long as you make on-time payments. PLUS loans approved prior to 5/19/08 do not receive reduced federal fees. VSAC evaluates borrower benefits each academic year and reserves the right to modify, terminate, or discontinue them at any time, at its sole discretion.
