Learn more about the limited time waiver for the Public Service Loan Forgiveness (PSLF) program.
Learn more about the Department of Education's recent announcement about Income-Driven Repayment Account Adjustments.
Learn more about the limited time waiver for the Public Service Loan Forgiveness (PSLF) program.
Learn more about the Department of Education's recent announcement about Income-Driven Repayment Account Adjustments.
A fixed-rate loan for parents helping to finance their student’s undergraduate or graduate education.
Review the details in the tabs below and begin your application when you're ready. If you’d like to consider the option of cosigning your student’s loan, you may also want to learn about a VSAC Student Loan.
Call 800-226-1029 to speak with one of our Vermont-based student financial aid experts. We're open Monday–Friday 8:00 am to 4:30 pm.
With VSAC's Parent Loan, you choose your interest rate, based on the repayment option that works best for you. You may not change your repayment option once you submit your loan application. After your interest rate is set, VSAC cannot alter your loan terms.
VSAC Parent Loan for the 2022–2023 academic year |
|
Less expensive option |
More expensive option |
Immediate: Start principal and interest payments right away
|
Delayed: Begin repayment 12 months after loan is fully disbursed
|
Start your secure application through MyVSAC.
To apply for the VSAC Parent Loan …
The parent borrower must be:
and:
The student must be:
and:
Start your secure application through MyVSAC.
With the VSAC Parent Loan, you choose the amount you want to borrow for each academic year. Your student’s school will certify eligibility for the loan amount and schedule disbursements based on your student’s enrollment period.
Applying for financing for the full academic year has benefits:
Tip: Be sure to keep track of the loans you are taking out as you go along, especially if you choose to postpone payments. Remember: 4 years add up quickly.
Start your secure application through MyVSAC.
The amount you’ll pay each month—and over the life of the loan—will vary based on your credit history and the repayment option you choose (which determines your interest rate) as well as the amount of your loan. The rate is fixed for the life of the loan and will not vary according to market conditions.
To give you an idea of monthly—and lifetime—payments, here are examples of interest rates, fees, and APR for a $10,000 VSAC Parent Loan for the 2022–2023 school year.
Repayment Option* |
Interest Rate |
Fee |
APR |
Finance Charge |
Monthly Payments |
Total Amount Paid |
Principal and Interest Payments with: |
||||||
Excellent Credit |
4.99% |
0% |
4.99% |
$4,344.20 |
180 @ $79.69 |
$14,344.20 |
Better Credit |
3% |
5.43% |
$4,774.40 |
180 @ $82.08 |
$14,774.40 |
|
Good Credit |
5% |
5.72% |
$5,060.60 |
180 @ $83.67 |
$15,060.60 |
|
Delayed Payments for 12 months with: |
||||||
Excellent Credit |
7.40% |
0% |
7.35% |
$8,016.20 |
180 @ $100.09 |
$18,016.20 |
Better Credit |
3% |
7.76% |
$8,556.20 |
180 @ $103.09 |
$18,556.20 |
|
Good Credit |
5% |
8.03% |
$8,916.20 |
180 @ $105.09 |
$18,916.20 |
* Each repayment option is subject to funds availability. Funds will be awarded on a first-come, first-served basis. Interest rates for delayed repayment loans are higher than interest rates on immediate repayment loans and result in a higher cost of borrowing. Interest begins accruing after each loan disbursement.
Start your secure application through MyVSAC.
Parents, taking out a loan in your name? You'll need: