• 0% Origination Fee^*
  • Bank of America will pay the government's origination fee for you.

• 0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers^**
  • The rate reduction applies for the life of the loan. Once you earn the reduction, it's yours!
  • For your convenience, Bank of America verifies that you have a checking or savings account. You do not need to provide documentation.

* The first disbursement on your loan must occur before 6/30/09 to receive this benefit.

** If the first disbursement on your loan is before 6/30/09, a 0.25% interest rate reduction applies if you have a Bank of America checking or savings account open for at least 60 days between your loan disbursement and your first scheduled payment. Your rate will be reduced shortly after you make your first scheduled payment on time. To see our checking and savings accounts, visit https://www.bankofamerica.com/index.jsp and click "Checking" or "Savings & CDs".

Effective for loans guaranteed or initially disbursed after January 1, 2008 and for the 2008-09 academic year:

• 0.50% Automatic Interest Rate Reduction at repayment for all students who continue to make on-time monthly payment
• Unlimited opportunities to earn back the 0.50% interest rate reduction! If a student loses their automatic interest rate reduction benefit due to a late payment, the benefit can be recovered unlimited times during the life of the loan. A student may regain the benefit by subsequently making 24 consecutive on-time monthly payments.
• 0.25% Interest Rate Reduction for students who have their loan payments automatically withdrawn through Citibank’s auto-debit payment program and agree to only receive electronic statements.

Effective for loans guaranteed on or after May 15, 2008:

• 0.25% interest rate reduction for auto-debit
• No pre-payment penalties
• One point of contact for life-of-loan servicing
• Flexible repayment options
• Non-profit funded company
• 20 years of experience concentrating solely on student loans

• Zero origination fee (Lenders can charge a fee of 1.5%)
• Zero default prevention fee (If fee is charged by the guarantor, GSFA will pay the fee on the borrower's behalf.)
• .25% interest rate reduction for using auto-debit
• 1% interest rate reduction following graduation at repayment
• 1% original principal reduction after first 12 on-time payments
• 1% original principal reduction after next 12 on-time payments
• Benefit Repair option after 24 months of on-time payments

(New borrowers beginning October 1, 2007)

• 1.5% Origination Fee
• Skip your last five payments after making all previous payments on time¹
• Skip two additional last payments for using auto-debit²
• 3 day grace during each payment period
• Receive personalized financial health e-newsletters
• Minimum monthly payment of $50 and a 10-year repayment term
• Life-of-loan servicing with Nelnet

¹ Sign up for e-correspondence and manage account on-line at Nelnet.com within 90 days of first disbursement, keep a valid email address for the life of the loan, do not opt out of e-correspondence, complete Nelnet.com’s financial health counseling within 90 days of entering repayment, no late payments past 3 day grace period, no pre-payment greater than 3x a single scheduled payment.
² Sign up for ACH within 90 days of entering repayment and maintain ACH for the life of the loan.

Effective for loans disbursed on or after July 1, 2008:

• 1 % rebate of the original loan amount after making the first 12 scheduled payments on time
• Benefit repair: If students miss one of the required 12 payments, they can restore their eligibility for the rebate with our benefit repair program by passing an online financial literacy course.
• 0.25% rate reduction with auto-debit payments