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.
Upcoming Events
8:45am - 3:45pm daily through August 4 at VSAC, Winooski
Are you a 7-12th grade math teacher in Vermont? You are invited to a week of professional development, July 31 – August 4, to introduce you to a new course...
Student & Parent Loans with You in Mind
for undergraduate, graduate/professional students & parents
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.
Get the Money You Need
7 out of 10 families need a loan to cover education costs.
Learn
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.
Compare
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.
Explore VSAC Loan Options
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:
- competitive fixed rates
- no origination fees
- multiple repayment options
- 0.25% interest rate discount for auto-debit
- cosigner release option
Cost-Saving Steps Before You Borrow
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:
- It's worth repeating: Take advantage of free aid first. Apply for all available grants and scholarships. This “gift aid” doesn’t have to be paid back.
- Use savings and current income. Explore tuition payment plans, which spread payments out over the academic year.
- Accept a work-study job if it's in your financial aid offer. These part-time jobs allow you to earn money toward college expenses. Or consider a part-time job while in school. Studies show that working up to 20 hours a week may actually improve your grades, since you’ll become pretty adept at time management.
- Cut expenses and economize while in school. The cardinal rule? Live like a student in school so you don't have to live like one for 10 years after graduation.
- Understand how the interest rate and the repayment plan you choose will impact your cost of borrowing.
- Borrow only what you need. Your goal should be to minimize loans as much as possible. You can choose to decline a loan or borrow less than what is offered, reducing what you’ll need to pay back.
Helpful Tools as You Borrow
FAQs for New Loans
My Education Loans Guide
VSAC Blogs
About Your Interest Rate
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.