Easy Education Loan from ACS (Affiliated Computer Services) Money Lender
What is ACS?
With the cost of education getting expensive day by day, it has really become very difficult for the students hailing from average middle class families to bear the expenses of such costly education. Keeping that in mind, a large number of financial institutions are established to provide education loans to the needy students. ACS or Affiliated Computer Services is one such financial organization that provides easy education loans to make higher education accessible and affordable to all.
What are the different kinds of loan provided by ACS?
ACS provides two kinds of education loans: Federal Student Loan and Private Student Loan. The Federal Loan is approved by the Ministry of US while the Private Student Loan is an independent education loan that does not come under the purview of any federal government. The federal loan covers all the basic education expenses while private student loan covers all the educational expenses that are not covered under the federal loan like purchase of books, laptops etc.
What are the main features of the Federal Loan provided by ACS?
The main features of the Federal Loan offered by ACS can be summarized under the following headings:
- The rate of interest is 6.8%
- The interest rate is fixed and does not vary
- Covers all the basic expenditures of education
- The repayment period commences after 6 months of course completion
- The maximum time limit to repay the loan is 7-10 years
- There is no credit check required except for the Federal Parent Plus loan
What is the Private Student Loan provided by ACS?
Sometimes it becomes very difficult to manage the complete education with the help of Federal Loan because it does not cover the entire educational expenses. To get rid of this quandary, ACS provides Private Student Loan. This private student loan covers all the educational expenses that are not covered under the Federal loan. But the rate of interest charged is more than that of Federal loan.
What are the main features of the Private Student Loan offered by ACS?
The main features of the Private Student Loan from ACS are summarized below:
- The maximum amount that you can take is the cost of your total education
- The rate of interest is usually around 10%
- Good credit score is required to avail this loan
- The repayment period starts once the course is completed
- You can repay the entire loan amount in 25 years
What are the benefits of availing student loan from ACS?
There are many benefits of availing student loan from ACS moneylender. There are no pre payment penalties and the repayment options are very good. Since the rate of interest charged is not very high, the education loan from ACS is affordable. The entire loan procedure is very easy and the loan is approved within a week. You are also saved from the hassles of lots of paperwork. There is no need to put anything as assets as a collateral to student loan. The interest rate can be paid monthly or when the repayment period commences. You can minimize the interest rate by applying with a creditworthy cosigner.
Financial Institutions
- Nelnet
- Panhandle Plains
- Regions Bank
- Sallie Mae
- SLFC (Student Loan Finance Corporation)
- Suntrust
- US Bank
- Wells Fargo
- Xpress
- Zions Bank