Easy Education Loan from Nelnet Financial Moneylender
What is NELNET?
NELNET is an educational planning and financial organization that specializes in providing student loan to the needy students. It was founded as the UNIPAC Loan Services Corporation in the year 1978 and in the year 1996 it was then renamed as Nelnet. Nelnet at present holds more than 27 million dollars in student loan. Nelnet owns more than 50 subsidiaries that manage the student loan across USA and Canada.
What are the different loans offered?
The different kinds of Federal loans offered by the Nelnet financial organization are Stafford Loan and Parent plus Loan. The main features of the Stafford loan are:
- The loan is either subsidized or unsubsidized
- There is no need of principal payment at least when you are half time enrolled
- The repayment period begins after 6 months
- The general time limit to pay the loan completely is 10 years
- No credit check is required
- There is no need to keep anything as collateral
- The repayment options are very easy
- The rate of interest is fixed at 6.8%
- The maximum amount of loan that you can take is $23,000
What are the main features of Parent plus Loan?
The main features of the Parent plus Loan are:
- The loan is meant to be given to the parent of their undergraduate or graduate child
- The maximum amount of loan taken is the total cost of attendance
- The rate of interest is fixed at 8.5%
- Takes 10 years to clear off the loan
What are the basic requirements to avail the student loan from Nelnet?
The basic requirements to avail student loan from Nelnet are:
- Must be a permanent citizen of USA or an eligible non permanent resident
- Must be more than 18 years of age
- Must be enrolled as full time or part time student
- The school or college must be certified by the department of education
- Need to fill the online FAFSA application form
- You must not be a default on or owe any kind of educational loan
How to apply for the loan?
In order to apply for the loan from Nelnet, you need to be pre approved. You will have to fill the online Free Application of Federal Student Aid and submit it with relevant documents like address proof, identity proof and age proof. Also you need to be a permanent resident of USA and your age should be more than 18 years.
Financial Institutions
- Nelnet
- Panhandle Plains
- Regions Bank
- Sallie Mae
- SLFC (Student Loan Finance Corporation)
- Suntrust
- US Bank
- Wells Fargo
- Xpress
- Zions Bank