Education Loans

Available loan programs to students:

Federal Subsidized Stafford Loan
A low interest loan for students attending school at least half-time, with demonstrated financial need. Interest on these loans is paid by the federal government while the student is in school. To apply online, Click Here.

Federal Unsubsidized Stafford Loan
Similar to the Subsidized Stafford Loan, but eligibility is not based on financial need. Interest is the student's responsibility as soon as the loan is disbursed. To apply online, Click Here.

Private Loans
Private loans are credit based alternative loans for students who require educational funding in excess of the amount allowed under federal loan programs. We encourage students to maximize their funding under the federal loan programs before seeking a private loan. To apply online, Click Here.

Private Consolidation Loans
A Private Consolidation Loan lets you combine all of your private student loans into a single new loan, or you can refinance an existing private loan with more attractive payment terms. To apply online, Click Here.

Available Loan Programs to Parents:

Federal PLUS Loan
Available to any credit worthy parent of an eligible undergraduate student. A step-parent may also qualify. Parents may apply regardless of income or assets. To apply online, Click Here.

Other THE National Bank products may help you finance your child's education, such as a home equity loan or line of credit. Click Here for a listing of our consumer lending agents.

This loan is based on financial need as determined by the federal need analysis process. The analysis occurs when the student submits a completed Free Application for Federal Student Aid (FAFSA) for processing. The school then uses FAFSA information to determine eligibility for the Subsidized Stafford Loan.

• be a U.S. citizen, national, or an eligible non-citizen
• be enrolled in an approved school on at least a half-time basis
• maintain satisfactory academic progress as established by the school
• comply with Selective Service registration requirements
• not be in default on any federal education loan, nor owe a refund on a grant

Interest Rate
Effective for loans with a first disbursement on or after July 1, 2007, the interest rate for Federal Stafford Loans is fixed at 6.8%.

For loans with a first disbursement on or before June 30, 2007, the interest rate for Federal Stafford Loans is variable, adjusted annually on July 1, and cannot exceed 8.25% over the life of the loan.

On Subsidized Stafford Loans the interest is paid by the federal government for the student under the following circumstances:

• while the student is in school at least half-time
• during the grace period - six months after graduation, withdrawal, or drop below half-time enrollment
• during authorized periods of deferment - specific circumstances that entitle the student to suspend principal and interest payments

Loan Amounts

Undergraduate Student - Dependent

Undergraduate Student - Independent

* All independent students may qualify for these additional unsubsidized Federal Stafford Loan amounts. Dependent students, whom the financial aid administrator judges to be eligible based on certain circumstances, or those whose parents do not qualify for a Federal PLUS loan may also qualify.

Fees
The agency that guarantees the loan may charge a fee of up to 1% of the loan amount. The federal government charges an origination fee to cover program costs of up to 1.5%.

Repayment
The standard repayment term is ten years, but there are other available options that will be disclosed to the student prior to the end of the grace period.

Cancellation
The student may cancel all or part of the loan prior to the receipt of funds by contacting the lender or the school. After funds have been disbursed, contact the school for information on returning funds.

Borrower Benefits
The following benefits apply to all repayment Federal Stafford loans disbursed throughout the 2008-2009 academic school year.

• THE National Bank Waived Payment Stafford Loan
• Skip your last five payments after making all previous on time payments
• Skip two additional last payments for using auto-debit

Qualifying is simple

• Sign up for auto debit from your bank account
• Sign up to receive account information via email
• Make your payments on time

The credits are applied directly to the loan account, effectively decreasing the interest cost and the time it will take to pay back the loan. These credits are based on the original principal balance borrowed, minus any cancellations and refunds. THE National Bank reserves the right to modify or discontinue these programs at any time without notice. Subsequent changes will not affect loans with established eligibility. Other terms and conditions apply. For additional information call THE National Bank at 1-800-229-9422.

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This loan is not based on financial need, and is for students who do not qualify for some or all of the Subsidized Stafford loan.

Eligibility
To qualify for this loan, the student must:

• be a U.S. citizen, national, or an eligible non-citizen
• be enrolled in an approved school on at least a half-time basis
• maintain satisfactory academic progress as established by the school
• comply with Selective Service registration requirements
• not be in default on any federal education loan, nor owe a refund on a grant

Interest Rate

Effective for loans with a first disbursement on or after July 1, 2007, the interest rate for a Federal Unsubsidized Stafford Loan is fixed at 6.8%.

For loans with a first disbursement on or before June 30, 2006, the interest rate for Federal Stafford Loans is variable, adjusted annually on July 1, and cannot exceed 8.25% over the life of the loan.

The student may make interest payments while in school, or let the interest accrue and be added to the principal balance when the loan enters repayment. This is called capitalizing interest, and results in a higher loan balance, monthly payment, and higher interest cost over the life of the loan.

Click here for current interest rates.

Loan Amounts

Undergraduate Student - Dependent

Undergraduate Student - Independent

* All independent students may qualify for these additional unsubsidized Federal Stafford Loan amounts. Dependent students, whom the financial aid administrator judges to be eligible based on certain circumstances, or those whose parents do not qualify for a Federal PLUS loan may also qualify.

Fees
The agency that guarantees the loan may charge a fee of up to 1% of the loan amount. The federal government charges an origination fee to cover program costs of up to 1.5%.

Repayment
The standard repayment term is ten years, but there are other available options that will be disclosed to the student prior to the end of the grace period.

Cancellation
The student may cancel all or part of the loan prior to the receipt of funds by contacting the lender or the school. After funds have been disbursed, contact the school for information on returning funds.

Borrower Benefits
The following benefits apply to all repayment Federal Stafford loans disbursed throughout the 2008-2009 academic school year.

• THE National Bank Waived Payment Stafford Loan
• Skip your last five payments after making all previous on time payments
• Skip two additional last payments for using auto-debit

Qualifying is simple

• Sign up for auto debit from your bank account
• Sign up to receive account information via email
• Make your payments on time

The credits are applied directly to the loan account, effectively decreasing the interest cost and the time it will take to pay back the loan. These credits are based on the original principal balance borrowed, minus any cancellations and refunds. THE National Bank reserves the right to modify or discontinue these programs at any time without notice. Subsequent changes will not affect loans with established eligibility. Other terms and conditions apply. For additional information call THE National Bank at 1-800-229-9422.

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This loan is not based on financial need, and is for the parent of a dependent, undergraduate student.

Eligibility
To qualify for this loan, the parent must:

• be the natural or adoptive parent of the student, or the spouse of a parent who is remarried, if that spouse's income and assets were used when calculating the family's expected contribution

Both parent and student must:

• be a U.S. citizen, national, or an eligible non-citizen
• not be in default on any federal education loan, nor owe a refund on a grant

The student must:

• be enrolled in an approved school on at least a half-time basis
• maintain satisfactory academic progress as established by the school
• comply with Selective Service registration requirements

Interest Rate
Effective for loans with a first disbursement on or after July 1, 2007, the interest rate for Federal PLUS Loans is fixed at 8.5%.

For loans with a first disbursement on or before June 30, 2006, the interest rate for a Federal PLUS Loan is variable, adjusted annually on July 1, and cannot exceed 9% over the life of the loan.

Click here for current interest rates.

Loan Amounts
For each academic year the parent may borrow up to the total cost of attendance, minus any financial aid the student is receiving from other sources. The parent may borrow less than the eligible amount, but not more than the school recommends. There is no aggregate maximum.

Fees
The agency that guarantees the loan may charge a fee of up to 1% of the loan amount. The federal government charges an origination fee to cover program costs. If charged, both fees are automatically subtracted from the loan disbursement. None of these fees are charged or kept by the lender.

Repayment
Repayment begins within 60 days after the final disbursement of the loan. The standard repayment term is ten years. This term may be extended depending on changes in the variable interest rate and the repayment method selected.

Borrower Benefits
The following benefits apply to all repayment Federal PLUS loans disbursed throughout the 2008-2009 academic school year.

• THE National Bank Waived Payment Stafford Loan
• Skip your last five payments after making all previous on time payments
• Skip two additional last payments for using auto-debit

Qualifying is simple

• Sign up for auto debit from your bank account
• Sign up to receive account information via email
• Make your payments on time

The credit is applied directly to the loan account, effectively decreasing the interest cost and the time it will take to pay back the loan. This credit is based on the original principal balance borrowed, minus any cancellations and refunds. THE National Bank reserves the right to modify or discontinue these programs at any time without notice. Subsequent changes will not affect loans with established eligibility. Other terms and conditions apply. For additional information call THE National Bank at 1-800-229-9422.

Click here for current interest rates.

Student Loans

THE National Bank currently participates as the funding agency for Stafford and PLUS Federal Family Education Loan Program. Other THE National Bank products may also help in financing with higher education such as a home equity loan or line of credit. These products should be considered when a family finds need to research Alternative/Private Loan product. THE National Bank offers an Alternative/Private Loan program and a Loan Consolidation program for certain institutions through Nelnet, our exclusive loan servicing agency.

For more information on education loans, please call 563-441-3573 or toll free 1-800-229-9422.

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