Bulletin Board
- Lela announces FAAM 2010 Scholarship Winners.
- Lela launches Financial Literacy Awareness Campaign. Click here for more information on becoming Financially Fit.
- Lela announces 2009 Christmas Card Art Scholarship Winners
- Click here to view Lela's 2009 Scholarship Winners
- Effective July 1, 2009, lower interest rates for Stafford loans and New Income-Based Repayment Program.
Need more information? Contact Lela by calling 800- 228-4755 or check with the financial aid office at the school you plan to attend.
A Grad Plus Loan is made directly to the student. You may borrow up to the cost of your education less any other financial aid awarded.
Eligibility for Grad PLUS Loan
You must be a U.S. Citizen, U.S. national, or eligible non-citizen to qualify. Credit guidelines will apply in determining your eligibility. Eligibility for Grad PLUS Loans is not based on need or income. Other federal and school guidelines apply. For more information, go to www.studentaid.ed.gov.
Applying for a Grad Plus Loan?
Check with your Financial Aid Office at your school for their steps to initiate the process and indicate you would like your loan processed through Lela.
Lender Code: 805149
Grad PLUS Loan Repayment
Repayment begins within 60 days of the final loan disbursement unless you are enrolled in school at least half-time.
Choose from a variety of repayment options. Interest-only payments are available when the student is enrolled in school at least half-time. You may be able to postpone your loan repayment if you meet current guidelines for an in-school, unemployment, or financial hardship deferment. Your minimum monthly payment is $50. The maximum repayment term is 10-25 years, based on your total loan balance. Please click here for more information about the latest options for repayment.
Please click here for interest rates and borrowing limits.