Arkansas EdLoan for AR National Guard Members
Arkansas EdLoan Benefits:
Loans guaranteed on/after May 1, 2008:
1% interest rate reduction for qualified loans
1% interest rate reduction for auto-debit payments
2% maximum reduction on total interest rate
Loans guaranteed prior to May 1, 2008:
3% interest rate reduction for qualified loans
1% interest rate reduction for auto-debit payments
4% maximum reduction on total interest rate
Arkansas EdLoan Interest Rates:
- Loans disbursed prior to June 30th, 2006 are variable and are adjusted annually on July 1, according to a formula set by Congress that is based on the results of the last Treasury Bill auction in May.
- Stafford Loans disbursed on or after July 1, 2006 are fixed at 6.8%
- Graduate PLUS Loans disbursed on or after July 1, 2006 are fixed at 8.5%. Click the following link for more information on the Graduate PLUS Program.
Arkansas EdLoan Loan Eligibility:
- Federal Stafford Student Loan disbursed after June 30, 2005 must be in repayment.
- Graduate PLUS loans disbursed on or after July 1, 2006 must be in repayment.
- Loans must be originated by ASLA (or an ASLA participating lender) and serviced by ASLA's contracted loan servicer, EdFinancial Services.
- Federal Parent PLUS and consolidation loans are not eligible.