Higher Education made Easy through Xpress Education Loan
What is Xpress?
Xpress is one of the top ten education loan providers of USA. It manages a portfolio of 9 billion dollars and servicing loans from more than three hundred thousand borrowers. Xpress is located in Cleveland and is a member of CIT Group which is a leading global financial company with more than 100 years of lending experience.
What are the different loans offered?
Xpress provides 2 kinds of loan programmes; Federal and Private to provide necessary finance to the expenses of education. The expenses include paying for the tuition fees, boarding rent and purchase of books and laptops. The Federal loan is approved by the US government while the Private Student is provided by Xpress and does not come under the US government.
What are the main features of the Federal loan program?
The different kinds of Federal Loan offered by Xpress are: Stafford, Parent Plus and Graduate Plus. The main features of the Federal Loan program are:
- It is a low interest student loan
- The rate of interest is fixed at 6.8%
- The repayment period is up to 10 years
- Covers all the basic educational expenses
- The interest can be paid monthly or when the repayment period begins
- The loan does not require a cosigner
- No credit check is required
What are the main features of Private Student Loan program?
The main features of Private Student Loan offered by Xpress are:
- The loan covers all the educational expenses
- The loan requires a cosigner
- The loan requires good credit scores
- There is no prepayment penalties
- The repayment period is maximum set for 25 years
What are the advantages of availing student loan from Xpress?
There are many advantages of availing student loan from Xpress that can be summarized under the following headings:
- The loan procedure is not very difficult
- There is not enough paperwork involved
- Xpress is the name that you can trust
- The rate of interest charged is not very high
- The repayment options are very good
- The loan is sanctioned within a week
- There is no need to put anything valuable as collateral
- There is no need to pay any fees on the principal amount
How to apply for the student loan? What are the documents required?
Now the question comes how to avail the student loan. If you are planning to apply for the Federal loan, then you would have to fill the FAFSA form. Alternatively if you want to go for the Private loan, then you would have to fill the online application form by going at the website of Xpress. Along with the application form, you would have to mail certain documents like age proof, address proof, identity proof and details about your bank account.
Financial Institutions
- Nelnet
- Panhandle Plains
- Regions Bank
- Sallie Mae
- SLFC (Student Loan Finance Corporation)
- Suntrust
- US Bank
- Wells Fargo
- Xpress
- Zions Bank