VSAC Offers Fixed-Rate Private Student Loan
WINOOSKI — The Vermont Student Assistance Corporation (VSAC) is again offering a fixed-rate private education loan for students who need to supplement their federal borrowing.
The Vermont Advantage loan for 2011–12 offers three repayment options, each with a different interest rate: 7.5 percent for immediate repayment, 7.9 percent for interest-only payments; and 8.5 percent for deferred repayment. Origination fees range from zero to 5 percent, depending on the credit rating of the borrower’s cosigner.
Students eligible to borrow from VSAC are Vermont residents attending college in or out of state and nonresidents borrowing for attendance at a Vermont school.
More details and an online application are available at vsac.org/vermontadvantageloan.