Arkansas Education Loan
The Arkansas Education Loan is an affordable loan to assist in financing your education at the University of Arkansas Global Campus. This loan is made available by the Arkansas Student Loan Authority.
The Arkansas Education Loan has a 24-month repayment term following the in-school period and grace period. Interest-only payments must be made during the in-school period and grace period. Regular monthly payments begin two months after departure from a U of A Global Campus program.
Loan Details
- Minimum loan amount: $999
- Maximum loan amount: Cost of program up to $2,000
- Standard interest rate: 7.9% (APR: 9.75%)
- Interest rate when using Auto Debit to make monthly payments: 6.9%!
- Origination fee: 3%
- Interest-only payments must be made during the in-school period and two-month grace period
- 24-month repayment term
Eligibility Criteria
- Must be enrolled in a U of A Global Campus program
- Must be a U.S. citizen or permanent resident of the U.S.
- Must not have defaulted on any private or government student loan
- Student or cosigner must pass a credit check
| Example of a $2,000 loan | |
|---|---|
|
Up to 8 interest-only payments while in school & grace period |
$14 / month |
|
24 regular monthly payments of principal & interest |
$93 / month |
|
Finance charges – origination fee and interest over life of loan |
$342 |
|
Total estimated amount repaid over 32 months |
$2,342 |
3801 Woodland Heights Road
Little Rock, AR 72212
800-443-6030
www.asla.info