Loan Services
- Federal Loan Programs Available -
Simmons First participates nationwide in the Federal Family Education Loan Program
(FFELP). FFELP is authorized in Part B of Title IV Higher Education Act of 1965, as amended. Under FFELP
, students and their parents can obtain low-cost education loans to pay for the cost of a higher education.
Our years of experience and attention to service make us the ideal lender to assist you with your educational borrowing needs.
Simmons First offers the four (4) loan programs comprising the FFELP.
Federal Subsidized Stafford Loan
- Loans made to undergraduate/graduate students.
- Eligibility based on financial need.
- Student must be enrolled at least half-time.
- Payment is postponed while student is enrolled at least half time.
- Fixed interest rate will vary depending on the academic year.
Federal Unsubsidized Stafford Loan
- Loans made to undergraduate/graduate students.
- Eligibility NOT based on financial need.
- Student must be enrolled at least half-time.
- Payment is postponed while student is enrolled at least half time.
- Interest rate is a fixed rate of 6.8%.
Federal GradPLUS Loan
- Loans made to graduate/professional student.
- Student must be enrolled at least half-time.
- Student must complete the FAFSA.
- Student must have applied for maximum loan eligibility in Federal Stafford Loans.
- Federally mandated credit checks performed.
- Student is responsible for ALL interest accruing on the loan from the time of disbursement until paid in full.
- Repayment begins on the date of the final disbursement of each loan; however, payments may be postponed while in school at least half-time.
- Student may borrow up to the cost of attendance (as determined by the school) minus any other financial aid.
- Interest rate is a fixed rate of 8.5%.
Federal Parent (PLUS) Loan
- Loans made to parents of dependent undergraduate students.
- Eligibility NOT based on financial need.
- Student must be enrolled at least half-time.
- Federally mandated credit checks performed.
- Interest rate is a fixed rate of 8.5%.
Click here to view LOAN LIMITS.
Loan amounts cannot exceed the cost of attendance as determined by the school.
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