AMS Student Loans
**Disclaimer – With the restructuring of Fannie Mae and Freddie Mac, and the switch to the Direct Loan program in 2010, AMS was absorbed by Sallie Mae, and no longer functions as mentioned below, it does however, seem to be a part of the Smart Option Student Loan Program. The remaining information has been retained for historical purposes **
Student Loan Programs for All Students
Academic Management Services (AMS) is a subsidiary of Sallie Mae. AMS student loans are suited to all elements of your education, from federal through private loans. AMS Student Loans assists students and their families with savvy college budgets designed to cure high debt loans. This style of business ultimately teaches clients how their newfound financial goals can serve all grade levels of students.
Access to Federal Loans
It is helpful to have access to federal loans with the same company that handles any private loans you may obtain. AMS has the convenience with their organization. They can help you in applying for your Stafford loan with no credit check and up to 10 years to repay. They offer Federal Plus loans for parents and graduates. Parents interested in Plus Loans may apply directly through AMS. The AMS Graduate Plus program is also available on the website. Applications can be submitted online, and you can have an answer in minutes.
Improving Primary Education
It is not common for organizations to offer funding to students before college, but AMS is one of the few. AMS offers the K-12 Family Education Loan to parents that wish to send their children to a private school. These loans are only available to U.S. residents with a creditworthy history. A parent may borrow as little as $1000 up to the full cost of tuition. Through this program, AMS is not only helping families to pay for private school tuition, but parents can also finance more than half of the tuition for added book, activity or other school fees.
Community College Funding
As a Sallie Mae company, AMS student loans offers up to $50,000 in loan assistance. Students must be attending a two-year college and pursuing an associate’s degree. There is no limit on the subject a student wishes to pursue. Even with not-so-good credit, AMS can often get this loan approved with a creditworthy cosigner. Applicants may have a cosigner for the first two years of the loan, and then request the cosigner be dropped off of the loan because they have paid as agreed. In this manner, the student builds their credit history while obtaining an education. Normally, these loan payments are paid over 15 years, but in certain situations can be extended up to 30 years.
Subject Specific Loans
AMS offers a few subject specific loans including the MBA Loan, and the LAW Loan. Both loans are designed for students that have already passed their federal limits. Both programs are only available to students already enrolled in accredited graduate business or law programs. After providing proof of enrollment, students can borrow between $500 and the entire cost of their education over a 25-year period with a cosigner. Without a cosigner, limits vary between $150,000 and $175,000.
AMS offers a few other alternative student loan programs available to the public. Check out the website for additional information on these and other programs, as well as directions or links to online loan applications.