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Loan Overview
Our goal is simple – to help students and families find the best
education financing solutions while keeping their debt to a minimum. That's why
we offer a variety of low-cost options, including
federal loans, and private
loans.
As a leading student loan provider, Chela and Nelnet offer the
Waived Payment Program for Stafford and PLUS loans.
More Details
Loan Comparison Chart
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Federal Loans
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Private
Loans
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| | Stafford
| PLUS
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Who can get this loan...
| Undergraduate and graduate
students
| Parents of Undergraduate Students,
Graduate and Professional Students
| Students
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This loan can be used for...
| Costs of education, as defined by
the school
| Costs of education, as defined by
the school
| Varies by school
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Loan amount available
| Ranges from $3,500 to $20,500 per
year; depending upon year in school. Some health professions students have
higher loan limits.
| Up to cost of education (as
defined by the school), less other financial aid
| Varies by school
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Interest rate
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6.8% fixed interest rate for the life of the loan.
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8.5% fixed interest rate for the life of the loan.
| Variable interest rate, changes
monthly or quarterly depending on loan type
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Date of first payment
| Six months after graduating, or
dropping below half-time enrollment
| Parent loan: Within 60 days of
final disbursement of the loan. Graduate/Professional students are eligible for
in-school deferment while enrolled at least half-time and making satisfactory
progress.
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Repayment starts 180 days after graduation, school separation, or residency end
date.
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Learn more -- apply
| Additional
Stafford Details
| Additional
PLUS Details
| Private
Loan Details
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* There must be at least one creditworthy borrower on the
loan.
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