AOAAdvantage PLUS Loans

Terms and Conditions

Eligibility

You must be a U.S. citizen or permanent resident and the parent of an undergraduate student who is enrolled full- or half-time in an accredited school. A credit check is required.

Loan Limits

Up to the total cost of the student's education, less any other aid the student receives.

Interest Rate

For loans disbursed on or after July 1, 2006:
During in-school or deferment period: Fixed 8.5%
During repayment period: Fixed 8.5%

Fees

Origination fee: 3.0%
Default fee: 1.0%

Repayment Terms

Loan(s) may be repaid over a maximum of 10 years. Repayment begins 30-45 days after the loan is fully disbursed.

Information contained in this Web site is subject to change without notice, based on regulatory changes to the Federal Higher Education Act and/or upon financial market volatility impacting the ability of lenders to finance student loans. Benefits offered on loans already disbursed will not change.

Why Choose Us

• An AOA member benefit
• Low, fixed interest rates
• Flexible repayment plans
• Fully automated, online account access
• Superior customer services from a nonprofit lender