The Student Loan People
BestStart Stafford Loans
Disbursed on or after 7/1/09:
| |
Origination Fee |
Federal Default Fee* |
Interest Rate Reduction |
| Kentucky |
0% |
0% |
0.25% after
auto debit |
| Alabama |
0% |
1% |
0.25% after
auto debit |
| Other States |
0% |
1% |
0.25% after
auto debit |
*Guarantors other than Kentucky Higher Education Assistance Authority (KHEAA) may charge other fees.
Disbursed on or after 7/1/08:
- 1% origination fee
- 0% federal default fee (Kentucky only)
- 0.25% interest rate reduction for auto debit
Disbursed between 7/1/06 and 6/30/07:
- 0% origination fee
- 0% federal default fee
- 3.5% credit to the original loan principal after the first 30 consecutive on-time payments
- 0.25% interest rate reduction for auto debit
Disbursed between 5/1/04 and 6/30/06:
- 3.5% credit to the original loan principal after the first 30 consecutive on-time payments
- 0.25% interest rate reduction for auto debit
Disbursed between 7/1/99 and 7/31/02:
- 2% interest rate reduction after the first 30 consecutive on-time payments
- 0.25% interest rate reduction for auto debit
Best Grad - Graduate PLUS Loan
Disbursed on or after 7/1/09:
| |
Origination Fee |
Federal Default Fee* |
Interest Rate Reduction |
| Kentucky |
3% |
0% |
0.25% after
auto debit |
| Alabama |
3% |
1% |
0.25% after
auto debit |
| Other States |
3% |
1% |
0.25% after
auto debit |
*Guarantors other than Kentucky Higher Education Assistance Authority (KHEAA) may charge other fees.
Disbursed on or after 7/1/08:
- 0% federal default fee (Kentucky only)
- 3% origination fee
- 0.25% interest rate reduction for auto debit
Disbursed between 7/1/06 and 6/30/07:
- 3% origination fee
- 0% federal default fee
- 1% interest rate reduction once fully disbursed
(Monthly on-time payments must be made to keep this benefit)
- 3.5% reduction to the principal after 30 consecutive on-time payments
- 0.25% interest rate reduction for auto debit
Best PLUS - Parent Loan for Undergraduate Student
Disbursed on or after 7/1/09:
| |
Origination Fee |
Federal Default Fee* |
Interest Rate Reduction |
| Kentucky |
3% |
0% |
0.25% after
auto debit |
| Alabama |
3% |
1% |
0.25% after
auto debit |
| Other States |
3% |
1% |
0.25% after
auto debit |
*Guarantors other than Kentucky Higher Education Assistance Authority (KHEAA) may charge other fees.
Disbursed on or after 7/1/08:
- 0% federal default fee (Kentucky only)
- 3% origination fee
- 0.25% interest rate reduction for auto debit
Disbursed between 7/1/06 and 6/30/07:
- 3% origination fee
- 0% federal default fee
- 1% interest rate reduction once fully disbursed
(Monthly on-time payments must be made to keep this benefit)
- 3.5% reduction to the principal after 30 consecutive on-time payments
- 0.25% interest rate reduction for auto debit
Disbursed between 7/1/04 and 6/30/06:
- 1% interest rate reduction after the first 30 consecutive on-time payments
- 1% principal reduction 90 days once fully disbursed
- 0.25% interest rate reduction for auto debit
Disbursed between 7/1/99 and 6/30/04:
- 1% interest rate reduction after the first 30 consecutive on-time payments
- 0.25% interest rate reduction for auto debit
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