IMPORTANT – If you’re a spring 2023 Vermont college grad who is staying in state and working for a Vermont-based company, you could be eligible for $5000 in loan repayment! CLICK HERE.
IMPORTANT – If you’re a spring 2023 Vermont college grad who is staying in state and working for a Vermont-based company, you could be eligible for $5000 in loan repayment! CLICK HERE.
As a nonprofit, we serve students, not shareholders. For more than 50 years, thousands of families have trusted VSAC to help them pay for college & training with grants, scholarships and low-cost loans. If you're a student attending a Vermont college, or a Vermont resident attending school anywhere, we're here to help you, too.
Are you new to the world of education loans? We want to help you understand and think smart about loans so you can confidently make the right choices now and manage your education debt successfully down the road.
How do you really know which loan is better than the next? We want to help you sharpen your skills to become a more confident borrower as you shop around. We’ll show you what to look for and how your choices can help reduce the amount you’ll ultimately have to repay for the next 10 or 15 years.
As Vermont’s nonprofit state agency, VSAC offers low-cost private loans for students and parents. Benefits of VSAC's 2023-2024 academic year loans include:
Here’s the key: Loans are borrowed money that must be paid back with interest. This means that the amount you repay will always be more than the amount you borrow. To minimize what you need to borrow and pay back, consider these tips:
1Lowest APR's are available for the most creditworthy applicants, Immediate Repayment, lowest term option and include VSAC's 0.25% interest rate discount.
2APR's for student and parent borrowers assume a $10,000 loan where the student attends school for 4 years and 2 equal disbursements in the first year. For Student and Parent Loan Immediate Repayment, loan enters repayment at final disbursement. For Student Loan Interest Only and Deferred Payment, loan enters repayment after 4 years. For Parent Loan Delayed Repayment, loan enters repayment one year following final disbursement. To receive a 0.25% interest rate discount, the borrower must enroll in VSAC’s auto debit through LoanPay. The interest rate discount benefit is for VSAC Student, VSAC Parent, and VSAC Choice loans with credit approved on or after May 11, 2023, for the 2023–2024 loan product year. The discount applies during active repayment when you make full or agreed upon reduced payments, as long as: (1) Your monthly payment is successfully withdrawn from the authorized bank account each month; (2) All your VSAC loans are 15 days or less past due; and (3) You agree to receive paperless statements. The interest rate discount is suspended during no-pay forbearance, after 3 consecutive failed payments, or if you cancel paperless statements or auto debit. The interest rate discount will not be reflected in the credit agreement, or disclosures you receive. Your loan must be enrolled in VSAC’s auto debit through LoanPay when your loan enters repayment.
VSAC reserves the right to modify, terminate, or discontinue borrower benefits at any time, at its sole discretion.