Types of Student Loans

What Kinds of Student Loans Are Available?

Student Loan Game Plan - An online tool to help reduce student debt through education about responsible borrowing decisions. www.studentloan.org/gameplan

PLUS Loans	Stafford Loans	Partnership Advance Education Loan	Iowa Alliance Loan
Available to parents borrowing on behalf of dependent undergraduate students, graduate and professional students. Federal PLUS loans: - Are not based on financial need. - Require the borrower to pay the interest for the life of the loan. - Have a fixed interest rate. - Have a 3% federal origination fee and a 1% federal default fee which may be deducted from the loan amount. - Have a loan limit equal to the cost of attendance minus other financial aid received. - Do not have a grace period. Repayment of principal and interest begins approx. 60 days after final disbursement.	Subsidized and unsubsidized Federal Stafford loans are the most common types of education loans. All Federal Stafford Loans: - Have a fixed interest rate if disbursed on or after July 1. - Have a 1.5% federal origination fee and 1% federal default fee which may be deducted from the loan amount. - Have a grace period. - Repayment begins six months after you graduate, leave school, or drop to less than half-time.	Shelby County State Bank works with Iowa Student Loan® to offer supplemental private student loans to help you with the cost of college. Partnership Advance Education Loan®: - Offers four options to fit your needs. - Features variable and fixed interest rates. - .25% rate discount for automatic payment withdrawal - Has deferred and interest-only payment options during your in-school period. - Features the opportunity to release your cosigner(s) from payment obligations. Compare rates, fees, terms and other loan information. APPLY HERE	A no-cosigner loan provided by Iowa Student Loan and its partnering lending institutions. To be eligible, you must first be denied a supplemental private student loan requiring a cosigner. For more information, APPLY HERE .

PLUS Loans

Stafford Loans

Partnership Advance Education Loan

Iowa Alliance Loan

Available to parents borrowing on behalf of dependent undergraduate students, graduate and professional students.

Federal PLUS loans:

- Are not based on financial need.

- Require the borrower to pay the interest for the life of the loan.

- Have a fixed interest rate.

- Have a 3% federal origination fee and a 1% federal default fee which may be deducted from the loan amount.

- Have a loan limit equal to the cost of attendance minus other financial aid received.

- Do not have a grace period. Repayment of principal and interest begins approx. 60 days after final disbursement.

Subsidized and unsubsidized Federal Stafford loans are the most common types of education loans.

All Federal Stafford Loans:

- Have a fixed interest rate if disbursed on or after July 1.

- Have a 1.5% federal origination fee and 1% federal default fee which may be deducted from the loan amount.

- Have a grace period.

- Repayment begins six months after you graduate, leave school, or drop to less than half-time.

Shelby County State Bank works with Iowa Student Loan® to offer supplemental private student loans to help you with the cost of college.

Partnership Advance Education Loan®:

- Offers four options to fit your needs.

- Features variable and fixed interest rates.

- .25% rate discount for automatic payment withdrawal

- Has deferred and interest-only payment options during your in-school period.

- Features the opportunity to release your cosigner(s) from payment obligations.

Compare rates, fees, terms and other loan information.

APPLY HERE

A no-cosigner loan provided by Iowa Student Loan and its partnering lending institutions.

To be eligible, you must first be denied a supplemental private student loan requiring a cosigner.

For more information, APPLY HERE .