AAA Advantage Student Loans
Private student loans can help pay college expenses after all scholarships, grants, and Federal loan options have been exhausted. It is recommended that students use Federal loans to fund their education before considering Private student loans. Click here to learn more about private student loans or to speak with a Student Loan Specialist call 1-888-422-2536.
- 3% principal reduction graduation reward for AAA members - based on disbursed loan amount
- Competitive interest rates
- Choose from 4 repayment types to best fit your budget, including deferred payments while in school
- Multiple repayment terms available to all approved applicants
- No origination fees
- Borrow up to the full cost of education, minus other financial aid, as certified by your school, up to a maximum of $65,000
- Online loan application takes as little as 15 minutes to complete
Responsible borrower benefits
- 0.25% interest rate reduction for automatic payments from your bank account1
- 0.25% interest rate reduction for on-time payments2
- Co-signer release available after 36 on-time payments3
- For all loan types the minimum loan amount is $2,000
- The maximum annual loan amount is the cost of attendance less other financial aid, as certified by the school, or $65,000, whichever is less
- The maximum aggregate loan limit is $150,000, inclusive of all student loan debt and any unsecured deferred consumer debt.
- Students who are US citizens or permanent residents ("green card" holders)
- Students who are enrolled at least ½ time in a degree granting program at an eligible school (list of eligible schools provided in the application)
- Students or a cosigner with a good credit history
- Students or a cosigner with 24 months of continuous income and proof of current income
- Students MUST complete and return self-certification form to lender.
- Variable interest rates from 2.80% to 9.19% (APRs from 2.799% to 8.627%)4
- Zero origination fees
1 Get a 0.25% interest rate reduction for making automatic monthly payments from a bank account. To qualify, simply arrange with your loan servicer to automatically deduct monthly principal and interest payments from a bank account. If any three payments are returned for insufficient funds over the life of the loan, the automatic payment benefit will bediscontinued for the remainder of the repayment period. This benefit is not available for interest payments made during the Deferment Period for the Interest-Only Repayment Option or Student Starter (partial interest payment) Option. This benefit may be terminated during deferment and forbearance periods.
2 Get a 0.25% interest rate reduction by making on-time payments. Once you have made on-time monthly principal and interest payments (received no later than ten days after the payment due date) for a minimum of the first 36 consecutive months, you can request the 0.25% rate reduction. To qualify, you must also have elected to make automated electronic payments prior to the 36th payment. The benefit will continue even if you choose to discontinue automated electronic payments after the 36th on-time payment.
3 A request for the cosigner to be released can be made after the first 36 consecutive, on-time payments (received no later than ten days after the payment due date) of principal and interest have been made. The borrower must meet credit criteria at the time of the request. At the time of the application for the benefit, the borrower must be enrolled in a program for automatic deduction of monthly payments from a bank account, and must not have used any forbearance on the loan prior to the request.
4 The current interest rates in effect as of 10/1/2011 range from 2.80% to 9.19%. APRs range from 2.799% to 8.627%. The applicable interest rate for each calendar quarter shall be based on the average of the one-month London Interbank Offered Rate ("LIBOR") published in the "Money Rates" section of The Wall Street Journal (Eastern Edition) on the 1st day of each of the three previous calendar months, or the next business day thereafter, rounded to the nearest 1/100th percent (.01%). The variable interest rate and Annual Percentage Rate (APR) may be higher depending upon the applicant's and cosigner's credit history and will increase or decrease if the one-month LIBOR index changes. The LIBOR index for the current calendar quarter is 0.20%. The low APR example assumes a $10,000 loan made in two disbursements with immediate repayment, a monthly principal and interest payment of $179.42 (there is a minimum monthly payment of $50), a 5-year repayment term (60 months), no Origination Fee, and a 2.800% interest rate (in effect as of 10/01/2011). With a 5-year repayment term, current interest rates can range from 2.800% to 8.660% depending on your or your cosigner's credit history and the repayment option selected. The high APR example assumes a $10,000 loan made in two disbursements with full deferment while in school (up to 66 months), a monthly principal and interest payment of $141.46 (there is a minimum monthly payment of $50), a 15-year repayment term (180 months), no Origination Fee, and a 9.190% interest rate (in effect as of 10/01//2011). Repayment terms and options may vary depending upon the amount borrowed. The interest rate is variable. Your variable interest rate and APR may be higher depending upon you and your cosigner's credit history and repayment option and term selected and will increase or decrease if the One-month LIBOR index changes.