Where to Find State of Mississippi Education Loans
Borrow with Affordable Aid Programs
Mississippi’s not-for-profit Educational Services Foundation (ESF) is single-handedly responsible for providing students and parents with the best student financial aid available in Mississippi. ESF offers everything from information on the state’s 529 savings plan, loan calculators, the state university system, and access to the Family Federal Education Loan Program and information on alternative loans.
Save Hundreds on FFEL Financing with ESF
The advantages to financing your federal loans like the Stafford with an agency like ESF is that you receive tax-exempt monies that make it possible for ESF to finance your loans without the added burden of the traditional loan fees you’d be assessed by other lenders. And you receive the most competitive interest rates. You can apply for all the same FFEL loans directly through ESF and receive quick approvals.
Parents of students who finance their PLUS Loans through ESF also receive nice rate cuts for prompt payment and even more when they setup a payment program that automatically deducts funds from their bank accounts.
PLUS loans however, require you have credit and that it’s good. If you’re worried your parents may not qualify for a PLUS loan because of hteir financial history, you may be able to borrow more than you initially thought with your Stafford Loan. Check with ESF for more information.
Other Financial Options
Mississippi offers students a host of state grants and scholarships to help get more kids into college. ESF provides links and applications for all. And for those seeking more financial aid, like alternative loans ESF recommends you consult either directly with your college or with an ESF account manager who is trained to advise you on the best course of financial aid including partner lenders who can give you good deals on alternative loans suited to your financial and educational situation.
Repaying Loans
When all is said and done, many Mississippi students will end up carrying multiple student loans, from a combination of federal to perhaps an alternative loan. And even though most loans don’t come due until six months after graduation, statistics show that many grads simply don’t have the jobs that are enabling them to make the payments. For this reason, ESF offers borrowers a number of flexible repayment options. Graduated payments start small and then get bigger as the loan period goes on. “Income Sensitive” options allow for a customized loan repayment suited to borrowers with a challenged income.
ESF Consolidation Loans
With the Federal Loan Consolidation financed through ESF you can bundle all your federal loans into one neat little monthly payment. The deal with consolidating is that you get much more affordable payments a month, but your payment period is extended.
The alternative consolidation loan available through ESF is their EZChoice Consolidation Loan. The product promises excellent interest rates when you apply and an attractive reduction in monthly payment amounts. Other borrower benefits include a “zero fee” promise. Don’t let loans default; consolidation is easy, affordable, and can save your credit for the future.